Samsung Electronics Co. warned Wednesday that Japanese controls on the export of chip-making materials was blurring its outlook and said it would delay a plan to return money to shareholders due to “significant new challenges.”
The South Korean tech giant also posted a 56 percent plunge in quarterly profit through June as an oversupply of memory chips continued to weigh down prices.
The profit decline and uncertain outlook overshadowed the company's optimism that the chip market had bottomed out and would start to recover in the second half. Samsung shares fell more than 3 percent at one point.