Samsung profit soars 19 times but shares slump 8% on oversupply worries

Samsung Electronics continues to ride the AI boom to massive profit increases. © ReutersKIM JAEWONJuly 7, 2026 09:30 JSTUpdated on July 7, 2026 11:47 JSTSEOUL -- Samsung Electronics' operating profit soared more than 19 times to 89.4 trillion won ($58.

4 billion) in the second quarter from a year ago as a memory chip shortage continues due to rising demand for artificial intelligence computing. SEOUL -- Samsung Electronics' operating profit soared more than 19 times to 89.4 trillion won ($58.

4 billion) in the second quarter from a year ago as a memory chip shortage continues due to rising demand for artificial intelligence computing. SEOUL -- Samsung Electronics' operating profit soared more than 19 times to 89.4 trillion won ($58.

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