Samsung Electronics Expects Q2 Profit to Drop More Than 95 Percent Amid Ongoing Chip Glut

Samsung Electronics reported a likely 96 percent plunge in second-quarter operating profit on Friday, largely in line with forecasts, as an ongoing chip glut drives large losses in the tech giant's key business despite a supply cut. Samsung estimated its operating profit fell to KRW 600 billion(roughly Rs. 3,795 crore) in April to June in April to June, from KRW 14.1 ...