Samsung expected to report 96% profit plunge in Q2 2023, lowest since 2008

  • Samsung Electronics is anticipated to register a 96% year-on-year profit decrease for Q2 2023 due to a fall in memory chip prices.
  • Despite the loss, Samsung is poised to increase its footprint in AI chip demand and is projected to report a $2.5 billion operating profit from its mobile business.
  • The company is also prepping for the Samsung Unpacked event on July 26 featuring the Z Flip 5 and Z Fold 5 releases.
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