Korea’s largest company reported net income of 1.4 trillion won (US$1.05 billion), compared with the 1.45 trillion won average analyst estimate. Its semiconductor division, typically its largest, posted a loss of 4.58 trillion won.
Samsung Electronics Co. posted record quarterly losses in its chip division, demonstrating the broad fallout from a global downturn dogging the biggest technology firms.
The world’s most prolific smartphone and memory chipmaker said Thursday it saw demand for the storage components improving gradually, echoing sentiments SK Hynix Inc. executives expressed a day ago. Samsung expects a second-half recovery in smartphones and displays, driven by a Chinese recovery. Its shares were largely unchanged in early Seoul trading.
