We start with a three-month period to forget for South Korea's biggest tech giant, Samsung Electronics,.... which saw its profits plunge despite a weak domestic currency and a turnaround in displays.
But Samsung's second quarter operating earnings WERE better than expected.
Our Kim Da-mi starts us off.
Samsung Electronics did better than market analysts expected, although it suffered a sizable on-year drop in profits.
Samsung said on Friday that its operating profit in the April to June period was estimated at around 5-point-6 billion U.S. dollars.
That's around a 56-point-three percent drop from a year ago, but it's up four percent from the previous quarter.
The same applies for its overall sales too.
Its sales fell more than 4 percent on-year to around 48 billion dollars.
However, that's an almost seven percent increase on-quarter.
It sounds like a mixed bag, but its overall performance in the first half of 2019 is a mere 40 percent of the figures it posted during the same period last year.
Falling global demand for memory chips on weakening demand from China and falling DRAM prices really hit the company's bottom line.
Specifically, DRAM and NAND flash chips, which account for more than two-thirds of Samsung's sales really dragged down profits.
The firm predicted its earnings to recover in the second half of 2019 with stabilized inventory levels and higher demand during the peak season, but market analysts expect the memory chip business to remain on a downward trend.
The tech giant is also keeping a close eye on Japan's export restrictions against South Korea of high-tech materials needed for semiconductor and display manufacturing.
As Samsung Electronics reportedly has enough of the materials in its inventory to last around three months,... the trade dispute between the two countries will not influence the company's performance for the time being, but it might be reflected later.
Full earnings data for each of Samsung's divisions is due to be released later this month.
KIM Da-mi, Arirang News.
