Samsung's profit plummeted 96%, hitting a 14-year low

【Lansheng Technology Information】: Operating profit at the world's largest maker of memory chips, smartphones and TVs likely fell to 555 billion won ($427 million) in the April-June quarter, according to data from 27 analysts on Refinitiv SmartEstimate. Favor those analysts who are more accurate.

If so, it would be Samsung's lowest profit since the fourth quarter of 2008, when Samsung Electronics reported a consolidated operating loss of about 740 billion won. That compares with an operating profit of 14.1 trillion won in the April-June quarter last year.

Operating profit at Samsung's mobile business is likely to be about 3.3 trillion won, according to the average forecast of five analysts, as efforts to cut marketing costs offset a slight increase in smartphone shipments from the first quarter, when Samsung launched its latest flagship model. have a declining effect.

Samsung is expected to launch its latest foldable smartphone in Seoul later this month, a few weeks earlier than usual, which analysts see as a way to wait longer before rival Apple (AAPL.O) unveils its next-generation iPhone. Time to dominate the high-end mobile phone market.

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