Samsung Q1 profit to drop 21% on weak AI chip sales, foundry losses

By Heekyong Yang

SEOUL (Reuters) – Samsung Electronics is expected to forecast a 21% drop in the first quarter profit on Tuesday, hurt by sluggish sales of artificial intelligence chips and continued losses in its contract chip manufacturing business.

The world’s biggest maker of memory chips, in the midst of a management reshuffle following the sudden death of co-CEO Han Jong-Hee in late March, is due to report preliminary first-quarter earnings on Tuesday.

Samsung has been…