Samsung is staring down the barrel of its first operating loss since 2008, as the chip and smartphone markets continue to dive.

Samsung Electronics could suffer an operating loss of as much as A$1.45 billion for the March quarter, according to an estimate by Hi Investment & Securities Co.

SK Securities also gave a dire outlook, expecting operating losses of A$674.8 million, while Samsung Securities Co expects a loss of A$314 million for the June quarter.

“The first-quarter performance came from smartphones that mostly offset the big chip losses and the small profits in displays, home appliances and electronic components,” Hwang Min-seong, an analyst at Samsung Securities, said.

“The effect of new smartphones will decrease in the second quarter, and we cannot rule out the possibility of the company turning to the red.”

This will mark the company’s first operating loss since the fourth quarter of 2008, when the GFC drove a A$1.05 billion loss.

Samsung’s earnings preview last month estimated its operating profits for the quarter fell 95.75 per cent.

The company is due to report its full financials tomorrow.