SEOUL -- Samsung Electronics said Friday that it expects operating profit to have tumbled almost 70% in the fourth quarter of last year, as high inflation sapped global demand for semiconductors and smartphones, the company's two key revenue sources.
Companies
Samsung sees Q4 operating profit down 69% amid recession worries
South Korean tech giant hit by low demand for chips, smartphones; shares up 1.4%
Samsung's earnings in the fourth quarter of last year were sapped by weaker demand for chips and smartphones, as much of the world braces for recession in 2023. © Reuters
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