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Samsung estimates profits plunged 96% in the second quarter

Samsung estimates profits plunged 96% in the second quarter

A man walks past the Samsung logo displayed on a glass door at the company’s Seocho building in Seoul on April 7, 2023.

Jung Yeon-je | Afp | Getty Images

Samsung Electronics said it expects a

in the second quarter of 2023 as weak demand for memory chips persists.

The world’s largest dynamic random-access chip maker estimates operating profit in the quarter from April to June to be 600 billion Korean won ($459 million), down…

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