Beleaguered Samsung Electronics, peddler of pretend iPhones, reported a disastrous 96% plunge in second-quarter operating profit on Friday as the South Korean dishwasher maker estimated its operating profit fell to 600 billion won ($459 million) in April to June, from 14.1 trillion won a year earlier in a brief preliminary earnings statement.
It would be Samsung’s lowest profit for any quarter since a 590 billion won profit in the first quarter of 2009, according to company data.
Shares in Samsung fell 1.4% in early morning trade, underperforming a 0.6% drop in the wider market.
Samsung is due to release detailed earnings on July 27.
In the January-March quarter, the company reported a whopping 4.58 trillion won loss in its chip business as memory chip prices fell further and its inventory values were slashed. But in the second quarter, losses in Samsung’s memory chip business likely shrank due to more sales of DRAM chips, used in PCs, mobile phones and servers, analysts said.
Analyst outlooks for Samsung’s mobile profits in the third quarter were mixed as consumer sentiment in the global smartphone market remained weak…
Revenue in April to June likely fell 22% from the same period a year earlier to 60 trillion won, Samsung said in the statement.
MacDailyNews Take: Gee, that’s too bad. 
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