Samsung Electronics reports 95% profit drop for Q2 2023

Samsung continues to get beat up by weak chip demand and a declining smartphone market, reporting a 95% profit drop in its second quarter.

Samsung reports earnings

Overstocked supply has led to price cuts in the DRAM and RAM industry, plus the demand for smartphones has also slipped, leading to a double whammy for Samsung. Along with the latest news, the company reported terrible results for its December and March quarters too.

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