Here's your TMB Tech Minute for Friday, July 5th.

I'm Zoe Thomas for the Wall Street Journal.

Samsung Electronics says it expects its operating profit for the second quarter to come in at 10.4 trillion

wan or about 7.52 billion dollars. That's up nearly 16 fold from a year earlier.

The South Korean technology giant's flagship

Semiconductor business swung to a profit in the first quarter after four

straight quarters of losses. The forecast suggests Samsung is continuing its solid

earnings recovery, helped by higher prices and demand for powerful chips amid

the artificial intelligence boom. The company is set to release full quarterly results

later this month. The European Union has confirmed it plans to impose additional tariffs on

electric cars made in China. The EU Commission said the new import fees would begin

today and last at least four months. Last month the Commission said the Chinese government

unfairly subsidizes EV companies, including European carmakers who import

EVs to Europe at a level that undercuts competition. But German car giant Volkswagen and others

have come out against the fees, fearing reprisal from an escalating

trade war.

And the price of Bitcoin slid today, at one point trading around 56,300 dollars according to Coin Desk.

It came after the defunct crypto exchange Mount Gocks,

which owes billions of dollars in the cryptocurrency,

said it had started making repayments.

Analysts say Mount Gox's repayments could flood the market with fresh Bitcoin supply.

The digital currency had been trading above $70,000 in early June.

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