Samsung’s chip division has been in trouble for months, but the latest quarterly results confirm the slump is even deeper than feared. The company now faces heavy losses in semiconductors even as other divisions struggle to keep its profits afloat.
Samsung Electronics recently posted its second-quarter financial results, and they’re worse than expected. According to CBNC, the Korean tech giant reported revenue of 74.6 trillion won ($53.7 billion US), slightly up from 74.07 trillion won ($53.3 billion) during the same period last year. Unfortunately, operating profits fell sharply to just ₩4.7 trillion ($3.38 billion), dragged down by a massive 93.8 percent drop in its chip business. Simply put, Samsung’s results underperformed even the company’s gloomy forecast from nearly a month ago.
Källa: Samsung posts brutal financials as chip business profits plunge by 94%
