Tech
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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