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Samsung Electronics Q2 net halves on weak chip prices, mobile slump

삼성전자 2분기 반도체 영업이익 3.4조원•••전년比 70%↓

The world’s biggest smartphone maker Samsung Electronics’ earnings and performance in the second quarter are out…and it shows,… the firm is struggling with semiconductor profits hitting the lowest figure.
Kim Da-mi has the details.
Samsung Electronics’ profits from its semiconductor business plunged in the second quarter by more than 70 percent from a year earlier,… mainly due to low memory chip prices.
The company said Wednesday that it made just 2-point-8-8 billion U.S. dollars on chips.
It’s the lowest figure in five years.
Sales fell 4 percent to around 47 billion dollars, and Samsung’s profits overall were down almost 56 percent from a year earlier.
The firm pointed to falling global demand for memory chips, especially from China, and falling prices for DRAM.
Samsung’s performance in the three-month period was slightly better, however, than it had forecast earlier this month.
Still, experts say growing uncertainties caused by Japan’s export curbs means Samsung will continue to face pressure.
Meanwhile, there was a turnaround in Samsung’s display business,… with a 7-percent jump in sales and an almost 6-percent jump in operating profits.
Despite a slowdown in the market for small-to-medium-sized displays,… the company said new iPhones to be released will help it in the second half of the year.
Sales in Samsung’s IT mobile business, including smartphones, rose almost 8 percent on-year with a boost from low- and mid-priced products.
That was hampered, though, by tougher competition in that price range and higher marketing costs.
Home appliances saw the biggest on-year improvement… with profits and sales up 30 percent and 6 percent respectively… thanks to sales of OLED TVs and airconditioners.
KIM Da-mi, Arirang News.

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