Samsung Electronics’ operating profit more than halved in the second quarter, marking the company’s lowest quarterly performance in six quarters. 

The South Korean tech giant said in its regulatory filing on Thursday that it posted four-point-67 trillion won in operating profit for the April-June period, down 55-point-23 percent from a year earlier. 

The latest figure is about three-point-36 billion U.S. dollars and is the lowest since the fourth quarter of 2023, when Samsung posted a loss of over two trillion won. 

Sales inched up zero-point-67 percent year-on-year for the period to post 74-point-56 trillion won, while net profit plunged more than 48 percent on-year to some five-point-11 trillion won.

The sharp decline in profit is attributed to poor performance in the high-bandwidth memory business and a loss of over two trillion won in the foundry division, which struggled to secure orders from major clients.