Samsung forecasts its profits for the last three months of 2022 to fall 69% to their lowest level in eight years.
The world’s largest memory chip, smartphone, and television manufacturer stated its operational profit for the period will be roughly 4.3 trillion won ($3.4 billion; £2.8 billion).
It comes as memory chip prices and demand for smart devices plummet as the global economy slows.
Consumers have been cutting back on spending in recent months, which has harmed global technology behemoths.
It was Samsung’s lowest quarterly profit since 2014, and investors had expected roughly 5.9 trillion won…Read More
Source: New York Wire