The South Korean company’s second-quarter operating profit is expected to be less than half of what the company reported last year. View on euronews

The South Korean technology giant has been struggling to catch up with smaller chip-making rivals SK Hynix and Micron Technology, which have benefited from brisk shipments of higher-end AI chips.

Samsung Electronics on Tuesday projected a far worse than expected 56% plunge in second-quarter operating profit due to weak AI chip sales, deepening investor concerns over the tech giant's ability to revive its struggling semiconductor business.