🧵 1. Samsung Electronics flags a massive 96% drop in Q2 operating profit, thanks to chip glut. Lowest profit since 2009. #tech
🧵 1. Samsung Electronics flags a massive 96% drop in Q2 operating profit, thanks to chip glut. Lowest profit since 2009. #tech
🧵 2. Despite supply cuts, Samsung's chip business suffers large losses. Memory prices fell, but not as much as feared.
🧵 3. Samsung's memory chip downturn expected to hit bottom in Q3, with a small rebound. DRAM prices to rebound from Q4.
🧵 4. Samsung set to maintain memory chip investment this year, increasing market dominance in 2025. Foldable smartphones launching soon.
🧵 Read more at: https://www.reuters.com/technology/samsung-elec-flags-96-drop-q2-profit-chip-glut-persists-2023-07-06/
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