samsung 

Samsung forecasts profit plunge after the U.S.-China trade war, beats expectations on one-off gains

Samsung Electronics Co Ltd forecast a steep plunge in its second-quarter operating profit as the U.S.-China trade war wreaks havoc in global chip and smartphone markets, although one-off gains helped it beat analyst expectations The South Korean tech giant is on track to post year-on-year profit declines for a third consecutive quarter as chip prices fell due to a supply glut and U.S. sanctions on Chinese telecom equipment maker Huawei Technologies, a key Samsung client. Memory chipmakers like Samsung and South Korea’s SK Hynix are hurting as rising tariffs hit…

Read More
samsung 

Samsung says profit slid 60 percent year on year

Samsung Electronics’ first-quarter operating profit slid around 60 percent year-on-year off revenue that declined by about 14 percent, according to preliminary guidance, further illustrating the company’s struggle with falling chip prices. The company had already issued an unprecedented warning last week that its earnings would be lower than market expectations. Total sales are expected to come in at 52 trillion won ($45.7 billion), with operating profit of around 6.2 trillion won ($5.5 billion), according to a statement. Samsung provides these figures alone at the start of each quarter, issuing a more…

Read More