US Export Bans And Nvidia Supply Issues Crush Samsung Chip Profits — Hopes Rest On Ultra-Thin Foldables, Smartwatches And Possible XR Debut At Galaxy Unpacked Event
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Samsung Electronics reported a 56% drop in second-quarter operating profit, attributed to U.S. export restrictions on AI chips for China and shipping delays to Nvidia. The estimated profit of 4.6 trillion won fell short of the 6.2 trillion won forecast, marking the weakest profit in six quarters. The upcoming Galaxy Unpacked event on July 9 is expected to showcase new foldable devices, Galaxy Watch 8, and possibly an XR headset, amid ongoing semiconductor challenges.
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