Samsung Predicts 56% Drop in 2Q Profit on Weak DRAM and NAND Chip Market

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Samsung predicts 56% drop in 2Q profit on weak chip market
Analysts say falling prices of DRAM and NAND memory chips are eating into the earnings of the company, which saw its operating profit during the first quarter drop more than 60% from last year. U.S. sanctions on Chinese technology giant Huawei may have also contributed to Samsung’s profit woes by reducing its chip shipments and pushing down chip prices farther.