Overview

• Samsung forecasts second-quarter operating profit of 4.59 trillion won, down 55.9% year-on-year from 10.44 trillion won
• Revenue edged down 0.1% to 74 trillion won as chip demand softened amid market volatility
• The company attributed the downturn to inventory provisions from memory-chip oversupply and US bans on advanced AI chip exports to China
• Delays in qualifying and shipping advanced high-bandwidth memory chips to Nvidia have hindered its AI segment recovery
• Samsung approved a 3.91 trillion won share buyback to bolster its stock and expects its foundry division to narrow losses in the second half