Samsung’s Q3 earnings outlook grim amid poor global chip demand

Seoul: The third-quarter earnings outlooks for Samsung Electronics and SK hynix, the world’s top two leading chip manufacturers, remain largely grim due to a recent fall in global demand for memory chips, an industry data analysis showed on Sunday.

According to the analysis by Yonhap Infomax of earnings outlooks for the two companies by securities companies within the past month, Samsung and SK hynix were expected to record operating profits of 12.8 trillion won ($9.07 billion) and 2.59 trillion won on a consolidated basis during the June-September period, respectively.