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Samsung reported its weakest profit in more than 2 years in the first quarter, as its core semiconductor business booked a 64% drop in operating profit.
Why it matters: Samsung's problems are part of a major reversal in semiconductor sales that's happening around the globe. Worldwide, there was a 15.5% drop in sales from Q4 2018 to Q1 2019.
Sales regionally:
- Americas: -29.2%
- China: -14.5%
- Japan: -13.8%
- Asia Pacific/All Other: -10.4%
- Europe: -3.1%
After a surreal sales explosion from 2016-2018, this year has seen a significant pullback, the biggest on a 3-month moving average basis since the financial crisis, according to data from World Semiconductor Trade Statistics.
Yes, but: As the chart makes clear, sales are still incredibly high and semiconductor companies have delivered solid second quarter guidance.
Go deeper: Samsung warning shows continued softness in consumer electronics