Samsung predicts 56 per cent drop in 2Q profit on weak chip market

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Samsung Electronics Co. said Friday its operating profit for the last quarter likely fell more than 56 per cent from a year earlier amid a weak market for memory chips.

SEOUL, Korea, Republic Of -- Samsung Electronics Co. said Friday its operating profit for the last quarter likely fell more than 56% from a year earlier amid a weak market for memory chips.

The company said its revenue likely fell 4% to 56 trillion won , but did not provide a detailed account of its performance by business division. It will release a finalized earnings report later this month.

 

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