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Samsung flags massive drop in quarterly profit as chip glut drags on | CNN Business

www.cnn.com Samsung flags massive drop in quarterly profit as chip glut drags on | CNN Business

Samsung Electronics reported a likely 96% plunge in second-quarter operating profit on Friday, largely in line with forecasts, as an ongoing chip glut drives large losses in the tech giant’s key business despite a supply cut.

Samsung flags massive drop in quarterly profit as chip glut drags on | CNN Business

They estimate a 95% plunge in second-quarter operating profit. This is due to the surplus of chips like nand. (1tb ssd for 25 bucks when?)

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