Samsung’s profit cut in half on slow sales of memory and flagship phones
Photo by Amelia Holowaty Krales / The Verge
Samsung Electronics has released second-quarter earnings results in line with its prior guidance, which is to say that they are not great. Operating profit fell 56 percent year-on-year to 6.6 trillion won — the lowest since the company had to deal with the fallout from the 2016 Galaxy Note 7 fire risk — while revenue slid 4 percent to 56.13 trillion won.
Samsung puts its troubles largely down to weak market conditions for its all-important semiconductor business, despite a slight bump in demand for memory. The situation is expected to improve somewhat in the second half of the year, though Samsung is warning of “external uncertainties,” likely a reference to the implications of various international trade disputes.
While revenue was up...
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