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Samsung Electronics said Tuesday it expected its second quarter operating profits to fall by more than half, blaming US export controls on advanced AI chips to China.
The firm is the flagship subsidiary of South Korean giant Samsung Group, by far the largest of the family-controlled conglomerates that dominate business in Asia’s fourth-largest economy.
The tech giant said in a regulatory filing that its April-June operating profits were expected to drop to 4.6 trillion won ($3.3 billion) — down 56 percent from a year earlier and 31 percent from the…
