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Samsung's Q2 Profit Down Nearly 96% To Hit 14-Year Low

It marked the worst quarterly profit in 14 years since the first quarter of 2009 when the South Korean tech giant reported 590 billion won in operating profit, reports Yonhap news agency.

Samsung Electronics Q2 profit down nearly 96 pct on-year to hit 14-year low

Samsung Electronics Co. on Friday said its second-quarter operating profit likely plunged about 96 percent from a year earlier, as a chip oversupply and slow demand persisted. The world's largest memory chip and smartphone maker estimated its April-June profit at 600 billion won ($461.2 million), significantly down from the 14.1 trillion won it reported a year ago. It marked the worst quarterly profit in 14 year.

Samsung Electronics Q2 Profit Down Nearly 96 pct On-year to Hit 14-year Low

Samsung's Q2 profit down nearly 96% to hit 14-year low

Samsung Electronics on Friday said its second-quarter operating profit likely plunged about 96 per cent from a year earlier, as a chip oversupply and slow demand persisted.The world's largest memory chip and smartphone maker estimated its .

Samsung Profit Down: Samsung Electronics' Q2 Profit Drops Nearly 96% to Hit 14-Year Low