Samsung Electronics has projected that its operating profit nosedived more than 95 percent in the second quarter, the worst performance since the global financial crisis in 2009.

The tech giant estimated on Friday that its operating profit came to 600 billion won, or around 450 million U.S. dollars, in the April-to-June period, a 95-point-seven percent drop on-year.

The drop constitutes the worst performance in 14 years since the first quarter of 2009, when Samsung reported a quarterly operating profit of 590 billion won, and tops the first quarter of this year when it fell 95-point-five percent on-year.

Sales in the second quarter declined 22-point-three percent on-year to 60 trillion won.