SEOUL — Samsung Electronics issued a rare apology and acknowledged on Tuesday it was facing a “crisis” over its technological competitiveness, reflected in a disappointing profit guidance, despite a global AI boom.
Samsung said it expected third-quarter profits to rise to 9.1 trillion won ($6.8 billion), up 274.5 percent from a year earlier, falling short of market expectations as the company struggles to leverage robust demand for the chips used in artificial intelligence servers.
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