Samsung predicts 56% drop in 2Q profit on weak chip market

SEOUL, South Korea (AP) — Samsung Electronics Co. says its operating profit for the last quarter likely fell more than 56% from a year earlier amid a weak market for memory chips.
The South Korean tech giant on Friday estimated an operating profit of 6.5 trillion won ($5.5 billion) for the April-June quarter, which would represent a 56.3% drop from the same period last year.
The company says revenue likely fell 4% to 56 trillion won ($48 billion), but did not provide a detailed account of