This file photo taken on October 11, 2016 shows the Samsung store in Paris. Samsung Electronics France was charged in April 2019 with “deceptive marketing practices”.Samsung Electronics said Friday it expects operating profit to tumble 56 per cent for the second quarter of this year in the face of a weakening chip market.
Revenue is expected to fall 4.2 per cent to 56 trillion won. Samsung is scheduled to report final results later this month. While Samsung’s device was not the first folding handset, the smartphone giant was expected to help spark demand and potentially revive a sector that has been struggling for new innovations.
The measures – which raises the stakes in a protracted dispute over South Korean court rulings requiring Japanese firms to compensate victims of a wartime forced labour policy – are expected to significantly slow the export of several key materials used by Samsung. “South Korea-based Kolon Industries could act as an alternative supplier for the Samsung foldable smartphone display.”
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