Samsung recorded its lowest operating profit in 14 years for its April to June quarter this year due to the continued downturn of the memory chip market.
The South Korean tech giant said in its earnings guidance that it recorded 60 trillion won in revenue and 0.6 trillion won in operating profit, a drop of 22.28% and 95.74%, respectively, from a year ago.
It is the company’s second consecutive quarter of a significant profit drop __ Samsung’s profit in the prior quarter also dipped by 96%.
