Samsung Profit Disappoints After AI Chip Missteps Hurt Business
Samsung Electronics Co.’s quarterly profit missed estimates, reflecting a costly effort to claw back market share in the pivotal AI chip and smartphone arenas.Korea’s largest company reported preliminary operating profit of 6.5 trillion won ($4.5 billion) for the December quarter, falling short of analysts’ average projection for 8.96 trillion won. Revenue came to 75 trillion won, just shy of estimates. Its shares fell as much as 1.3% Wednesday morning in Seoul before recouping losses....
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