Jan 9, 2024
Samsung warns of worse than expected profits fall
Technology giant Samsung Electronics says it is likely to see its profits for the last three months of 2023 fall by more than a third. The decline is much worse than analysts expected and comes as global demand for consumer electronics remains weak. South Korea-based Samsung is the world's largest maker of memory chips, smartphones and televisions. In the previous quarter, the same measure of profitability plunged by 95%, which triggered Samsung to cut the number of memory chips it planned to make. Samsung's warning on Tuesday comes as CES, the world's biggest consumer technology trade show, gets underway in Las Vegas.
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