Samsung phones can't offset chip slump as profit hits 14-year low

New foldables face old problem of narrowing scope for innovation

20230727N Samsung event

Visitors try out Samsung's new Galaxy Z Flip5 and Z Fold5 foldable phones at an event in Seoul on July 26. © Reuters

KOTARO HOSOKAWA, Nikkei staff writer

SEOUL -- Samsung Electronics's latest earnings show the strain on its smartphone business, which the South Korean group has relied on to offset downturns in chipmaking operations.

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