SEOUL: South Korea's Samsung Electronics Co Ltd flagged improved second-half results on expectations of a pick up in memory chip and smartphone sales, after posting its weakest profit in more than two years in the first quarter.
Samsung's smaller rival, SK Hynix, last week posted the slimmest quarterly operating profit in over two years. But it was confident chip demand would recover later this year, a sentiment echoed by Samsung on Tuesday. An easing in China-U.S. trade tensions could also unlock some demand for consumer electronics and encourage Chinese cloud service providers, which had stockpiled chips in anticipation of a prolonged trade war, to lower their inventories to more normal levels, analysts said.
But in a blow to its renewed focus on innovation, Samsung delayed global sales of the foldable phone after reviewers discovered problems with the display.
Source: Tech Daily Report (techdailyreport.net)
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