Samsung Electronics (KRX:005930) reported a lower-than-expected second-quarter profit due to certain shortcomings in its key chip business and talked about “challenges” in the future.
The technology giant said operating profit was 56% lower from the year-ago period. However, these results speak for the whole industry which is taking heavy hits from the US-China trade war.
According to the reports, Samsung made an operating profit of 6.6 trillion Korean won ($5.6bn; £4.6bn) over three months through June, compared with the 14.87 trillion Korean won reported in the year-ago quarter. The reported profit met the company’s forecasts.
“The company is facing challenges from uncertainties not only in business areas but also from changes in the global macroeconomic environment,” Samsung said in a statement.
Samsung said it intends to focus on rolling out the new products in the next quarter such as its first folding smartphone which also had issues with broken screens reports.