🚨Samsung Q2 Shock: AI Chip Woes Hit Hard
🔹Samsung’s Q2 profit dropped 56% to about $3.36B, missing expectations by over $1B. The company blamed 🇺🇸U.S. AI chip export curbs to 🇨🇳China and delays in HBM chip supply to Nvidia. Its chip unit suffered badly, but phone sales helped cushion the blow. A gradual recovery is expected. Revenue was flat; chip division profits plunged over 90% year-on-year.
-Reuters