Dow Jones Newswires: Samsung Electronics’ net profit plunges 86% in first quarter amid chip downturn

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Dow Jones Newswires


Kwanwoo Jun

Attendees visit the Samsung booth at CES 2023 in Las Vegas.

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Samsung Electronics Co.’s KR:005930 first-quarter net profit slid 86% from a year earlier, with its semiconductor segment posting a large loss amid a downturn in the chip industry.

Chip demand will likely continue to be sluggish through the second quarter before gradually recovering in the second half, the South Korean tech giant said Thursday.


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