Samsung Electronics sees 56% drop in Q2 operating profit due to chip slump, US tariffs

Seoul, [South Korea], July 9 (ANI): Samsung Electronics announced its second-quarter operating profit dropping by nearly 56 per cent compared to the same period last year, largely due to a downturn in its semiconductor business and the impact of U.S. trade restrictions, as reported by the Korea Herald.

The company reported an estimated operating profit for the April-June quarter at 4.59 trillion won (USD 3.4 billion), down sharply from 10.44 trillion won a year ago, and 31.2 per cent lower than the previous quarter’s figure of 6.69 trillion won.