SEOUL — Samsung Electronics says U.S. curbs on exports of advanced chips to China are hurting its business, as the South Korean tech giant reported a 62% quarter-on-quarter fall in operating profit in the first three months of the year.
“For the memory business … overall earnings were impacted by the erosion of average selling price, as well as a decrease in high-bandwidth memory (HBM) sales due to export controls on AI chips and deferred demand in anticipation of upcoming enhanced HBM3E products,” the company said in a news release on Wednesday.
