Samsung’s profit halves on weak chip, smartphone sales in Q2

Seoul: Samsung Electronics said on Wednesday its second-quarter net profit more than halved from a year earlier on weak chip prices and tepid smartphone sales, warning that Japan’s export curbs cloud its business outlook.

Samsung said it sold 8.3 million smartphones and 4 million tablets in the second quarter, predicting similar levels of shipments in the third quarter.

The net profit for the world’s largest chip and smartphone maker came to 5.18 trillion won ($4.4 billion) in the April-June period, a 53.1% fall from a year earlier, the company said in a regulatory filing.