Samsung’s profit halves in deepening chip business crisis

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Samsung Electronics Co.’s profit fell for the first time since 2023, reflecting the deepening market share losses clouding the memory chipmaker’s prospects in the AI era.

The company reported a sharper-than-anticipated 56% plummet in operating income for the June quarter, which it blamed on inventory writedowns following US curbs on Chinese-bound AI chips. Its shares swung between gains and losses in Seoul Tuesday after the company announced a 3.9 trillion won stock buyback.

The disappointing results underscore how South Korea’s largest company…



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Samsung’s profit halves in deepening chip business crisis


Samsung Electronics Co.’s profit fell for the first time since 2023, reflecting the deepening market share losses clouding the memory chipmaker’s prospects in the AI era.

The company reported a sharper-than-anticipated 56% plummet in operating income for the June quarter, which it blamed on inventory writedowns following US curbs on Chinese-bound AI chips. Its shares swung between gains and losses in Seoul Tuesday after the company announced a 3.9 trillion won stock buyback.

The disappointing results underscore how South Korea’s largest company…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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