Robert Yi: Percent Plunge and Trade Conflicts

robert yi: Samsung shares fell more than 3 percent at one point, according to The Japan Times. In addition to already high uncertainties caused by prolonged global trade conflicts, the external environment regarding our component business has recently come under significant new challenges, Robert Yi, Samsung's head of investor relations, said on an earnings call. The South Korean tech giant also posted a 56 percent plunge in quarterly profit through June as an oversupply of memory chips continued to weigh down prices. ; The profit decline and uncertain outlook overshadowed the company's optimism that the chip market had bottomed out and would start to recover in the second half. As a result, we no longer believe it is possible to reasonably predict or forecast our free cash flow for 2018 through 2020, Yi added. Outlook from the chip leader is closely watched by investors as a barometer of demand for smartphones and other electronics, as well as servers that process massive amounts of data. Like other global tech companies, Samsung has been hurt by the long-running trade war between the United States and China, and an escalating spat between Japan and South Korea is likely to pressure third-quarter results. (news.financializer.com). As reported in the news.