SEOUL - Samsung Electronics is likely to say second-quarter profit more than halved when it reports preliminary earnings on Friday, data showed, as a drop in memory chip shipments to China’s embattled Huawei exacerbated a price-squeezing supply glut.
The world’s biggest supplier of DRAM and NAND memory chips is also the world’s largest maker of smartphones, a market where chip client Huawei is second place. Companies worldwide have been forced to restrict business with Huawei to comply with U.S. trade sanctions on a company Washington deems a security risk.
Even so, selling chips brings in most of Samsung’s profit - over two-thirds - and a saturated smartphone market and falling demand from data centers have pulled prices down. On Friday, Samsung is likely to flag a 60% decline in April-June operating profit at 6 trillion won , according to Refinitiv SmartEstimate, which is based on the estimates of 29 analysts, with the estimates of analysts historically more accurate given greater weighting.
Still, in the long run, the good news for Samsung could lie in Huawei’s troubles. If U.S. sanctions remain, Samsung could sell 37 million more smartphones annually, said senior analyst Song Myung-sup at HI Investment & Securities. Moreover, it would likely install its own chips in those handsets, Song said.
Source: Tech Daily Report (techdailyreport.net)
I, for one, love my Samsung phone. However, Verizon is being a bunch of dill-holes and can't figure out how to activate it or give out contradictory information amounting to half of a day wasted.
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