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Samsung Expects Quarterly Operating Profit to Drop 56%

Samsung Expects Quarterly Operating Profit to Drop 56%

Samsung 005930 -2.53%decrease; red down pointing triangle Electronics expects its operating profit for the second quarter to more than halve from a year earlier amid a weak recovery in its semiconductor segment, missing market expectations.
The South Korean technology giant attributed its downbeat earnings guidance partly to its one-off cost to recognize inventory value losses stemming from U.S. curbs on advanced-chip exports to China.
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