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Samsung's Q2 profit dips 55% as chip troubles loom
Samsung just reported a 55% drop in its Q2 operating profit—down to 4.7 trillion won (about $3.37 billion).
While revenue nudged up by less than 1%, this sharp profit dip is mostly because of delays in shipping high-bandwidth memory chips and US restrictions on selling advanced chips to China.
Tesla deal to help Samsung bounce back
The chip troubles have investors worried about how Samsung will keep up with rivals, especially as AI data centers are hungry for these high-end chips.
To bounce back, Samsung has landed a massive $16.5 billion chip supply deal with Tesla, hoping this move will boost its foundry business and help steady the ship.