Samsung Electronics Co. said its operating
profit for the last quarter likely fell more than
56% from a year earlier amid a weak market for
memory chips.
The South Korean tech giant estimated an
operating profit of 6.5 trillion won ($5.5
billion) for the April-June quarter, which would
represent a 56.3% drop from the same period
last year.
The company said its revenue likely fell 4% to 56
trillion won ($48 billion), but did not provide a
detailed account of its performance by business
division. It will release a finalized earnings report
later this month.
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