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Aya Lin · · 1 min readIn brief: Samsung looks to chip recovery as Q2 profit drops 56%
- Samsung said it expected the chip market to bottom out and start to recover in the second half as it posted a 56% drop in quarterly profit on Wednesday, hit by declines in semiconductor prices amid oversupply, Reuters reported.
- “Server demand is expected to increase gradually as customers adjust their inventory levels and resume purchasing, while PC demand is also likely to expand,” the South Korean tech giant said, referring to demand for its dynamic random-access memory chips.
- The chip business was still Samsung’s top earner, but it reported a steep fall of 71% in operating profit from the same period a year ago.
Editing by Charmaine de Lazo
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