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Samsung, the world's number one mobile phone, announced Wednesday that its net profit for the third quarter had dropped 53.1%.
The company's net profit stood at 5.18 billion won ($ 4.4 billion) between April and June, up from 11 trillion won the previous year, the company said at the of a press conference.
The company said its operating profit fell 55.6 percent to 6.59 billion won and its sales fell 4 percent to 56.1 billion won in the three-month period. , according to Yonhap.
"The weakness and price declines in the memory chip market continued with the effects of inventory adjustments made by major data center customers in previous quarters, despite the limited recovery in demand," he said. added the company.
The company forecast increased demand for AMD servers and servers in the third quarter as data centers adjusted their inventory levels and resumed their purchases in peak season.
The Korean technology company is facing growing ambiguity on the trade front as a result of the long trade war between the United States and China and recent restrictions imposed by Japan on South Korean exports.
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