that is aneeka gupta, director at wisdomtree.oming up, we bring you the nerve surrounding the chip sector. this is bloomberg. ♪ dani: welcome back to "bloomberg daybreak: europe." samsung has reported its first drop in profits since 2019 on the back of chipmakers facing sharp declines. it's get to annabelle, who is on top of the story. what did the results look like? >> not good ones. the first profit drop we have seen since 2019. we also had net operating profit dropping. these are the preliminary results. we will actually get the net income and details of the performance that will come later in the month. not a great outlook from samsung. we had some macro devices that also missed sentiments to the tune around $1 billion. generally this is a broad industry trend. they are all cutting output to try and bring balance supply and it underscores the debt -- the depth. we see where it is more evident in the south street market. it is home to two of the biggest chipmakers. both of these are battling the record drop in output. dani: i