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Samsung estimates profits plunged 96% in the second quarterCompanies are grappling with excess chip inventories as consumers buy fewer electronics due to inflation. As a result, prices for memory chips have fallen.
Source: CNBC - 🏆 12. / 72 Read more »
Samsung profit likely lowest in more than 14 years as chip glut persistsSamsung Electronics' June-quarter profit is expected to plunge 96% on-year to the lowest for any quarter in more than 14 years, as a chip glut continues to drive large losses in the tech giant's cash cow business despite a supply cut.
Source: Reuters - 🏆 2. / 97 Read more »