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Samsung announced first-quarter earnings: semiconductor business plunged 64%, panel business losses

  According to Reuters, Samsung announced its first quarter earnings. The data showed that operating profit for the first quarter was $5.4 billion, and revenue was $45.18 billion, down 13.5% year-on-year. Both figures are in line with Samsung's previous expectations.

Samsung's largest business is dragged down by Samsung's core semiconductor business. Data show that Samsung Semiconductor's operating profit fell 64% to only $3.54 billion, while the display panel business lost $480 million.

This time, Samsung's mobile business is also not ideal, operating profit has also dropped by 40%, only 1.98 billion US dollars.

Samsung said it expects the overall storage chip market to be weak in the second quarter. Although demand will improve, prices are likely to continue the current decline. Demand for high-density chip products is expected to continue to grow in the second half of the year, but uncertainty remains. The demand for flexible screens will increase with the launch of new smart phones, so the display business is expected to pick up further.

Samsung hopes to use its latest mobile phone to focus on folding screens to reinvigorate its mobile business.