Samsung Electronics Q1 profit likely drops 96 pct as demand plunges

TL;DR

Top NewsMost ViewedKorean Newspaper HeadlinesToday in Korean HistoryYonhap News Summary(ATTN: RECASTS throughout; CHANGES headline; ADDS photo)SEOUL, April 7 (Yonhap) -- Samsung Electronics Co. Samsung's Device Solution (DS) division, which oversees its chip business, is forecast to run a deficit of around 4 trillion won, in its first financial loss in 14 years, according to analysts' estimates, as a surplus chip inventory has been growing significantly amid tapering global demand. The world's largest memory chip maker forecast the global chip market will shrink 6 percent on-year to $563 billion this year, due to a sharp drop in demand, and warned of difficult conditions continuing throughout the year

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