SEOUL, July 5 (Reuters) - Samsung Electronics Co Ltd on Friday said its second-quarter operating profit likely fell 56 % from a year earlier, beating analyst estimates.
Analysts say a drop in memory chip shipments to China’s embattled Huawei Technologies exacerbated a price-squeezing supply glut.
Samsung, in a regulatory filing, said April-June profit was likely 6.5 trillion won ($5.6 billion), beating the 6 trillion won Refinitiv SmartEstimate.
Samsung said its operating profit included its display division’s one-off gains, but it did not elaborate further.
Revenue likely fell 4.2 % from a year earlier to 56 trillion won. ($1 = 1,167.3100 won) (Reporting by Ju-min Park and Heekyong Yang; Editing by Stephen Coates)