Samsung profits fall 56%, despite $684m Apple subsidy

Saheli Roy Choudhury for CNBC:
Samsung Electronics said on Friday that profits for the three months that ended June more than halved from a year earlier following continued weakness in price and demand of memory chips.
The world’s largest smartphone maker and supplier of memory chips said operating profit was at 6.5 trillion Korean won ($5.5 billion), which was slightly better than an industry estimate of 6 trillion won, but was down about 56% from a year earlier.
Memory components, w