Samsung Electronics expects its second-quarter operating profit to have more than halved from a year previously, falling about 56 percent to 6.5 trillion won ($5.56 billion), according to earnings guidance released by the company today. Revenue is projected to slide about 4 percent to 56 trillion won ($47.89 billion).
This would be Samsung’s lowest profit since Q3 2016, when the company was hit by the Galaxy Note 7 debacle. Samsung doesn’t provide full explanations along with its earnings guidance, but analysts suggest the Huawei crackdown could have had a significant impact on Samsung’s critical chip business. On the other hand, it’s also likely to help Samsung’s smartphone sales in certain markets.
Things could have been even worse for…
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