SEOUL, July 6 (Reuters) - Samsung Electronics' (005930.KS) June-quarter profit is expected to plunge 96% on-year to the lowest for any quarter in more than 14 years, as a chip glut continues to drive large losses in the tech giant's cash cow business despite a supply cut. If so, it would be Samsung's lowest profit since the fourth quarter of 2008, when Samsung Electronics reported a consolidated operating loss of about 740 billion won. It compares with an operating profit of 14.1 trillion won in the April-June quarter last year. This is because its chip division, traditionally its biggest earner, likely reported quarterly losses of around 3 trillion to 4 trillion won as memory chip prices fell further and its inventory values were slashed. Despite the current downturn, Samsung is working to increase its share of chip demand from the exploding field of artificial intelligence (AI), such as with high bandwidth memory (HBM) and chip contract manufacturing, they said.

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Persons: 1,298.7800, Joyce Lee, Sonali Paul Organizations: Samsung Electronics, Samsung, Apple, Thomson Locations: SEOUL, KS, Seoul