SEOUL, Jul 7 (NNN-YONHAP) – South Korea’s tech firm, Samsung Electronics, saw an earnings shock in the second quarter due to the continued semiconductor slump the company said today.
Samsung’s preliminary operating profit stood at 600 billion won (459.8 million U.S. dollars) in the Apr-Jun quarter, down 95.7 percent compared to the same quarter last year.
Preliminary revenue declined 22.3 percent to 60 trillion won (46 billion dollars) in the second quarter.
Market watchers estimated that Samsung’s chip-making unit recorded an operating loss of over three trillion won (2.3 billion dollars) in the second quarter.– NNN-YONHAP
