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Samsung faces weakest quarter since 2009 as memory chip market in 'worst slump in decades'

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Samsung said this month that it would report operating profit of 600 billion Korean won ($449 million) for the first quarter, its worst number in 14 years.

Samsung guided earlier this month that it would report operating profit of 600 billion Korean won for the first quarter.

Samsung is the world's biggest maker of memory chips. A lack of demand and a chip glut has put pressure on memory prices which could hammer Samsung's profit.Samsung could report its worst profit in 14 years this week, as prices for memory chips, its biggest business, continue to fall, while demand stays weak.

Samsung is the world's largest maker of memory chips, which go into everything from PCs to servers in data centers. Analysts at Mirae Asset Securities estimate that Samsung's chip division will post a 4.4 trillion Korean won loss in the first quarter.

 

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