Samsung’s quarterly profit more than halved after a global industry downturn and trade tensions hammered demand for its chips and high-end smartphones.Korea’s largest company reported a less-than-expected 56% fall in operating income to about 6.5 trillion won (€4.9bn) in the June quarter — but that was helped by an unspecified one-time gain from a customer that analysts estimate could have topped €710m.Samsung — the world’s biggest producer of smartphone screens, semiconductors and mobile phones — is grappling with plateauing demand in the face of an economic slowdown. Its memory chips remain a barometer for everything from computers to smartphones and have been one of the hardest-hit components since President Donald Trump’s tariffs took effect in May. Jitters over Samsung’s biggest cash cow grew this week when Japan slapped export restrictions on materials needed for display and chip production, potentially hammering also rival SK Hynix.“Considering the structural downturn in memory prices and the mobile business, it’s unlikely Samsung would exceed earnings estimates” in the second half, Meritz Securities analyst Kim Sunwoo said.Trade tensions are walloping chip prices worldwide. Unpredictability surrounding the trade war between the US and China — where Samsung earns the bulk of its revenue — has sustained a… Read full this story
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