Samsung expected to report 80% profit plunge as losses mount at chip busines

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  • Samsung Electronics earnings are expected to plunge nearly 80% in the third quarter, according to analyst forecasts.
  • Analysts see its semiconductor business — typically Samsung’s cash cow — reporting a more than 3 trillion won ($2.2 billion) loss for the third quarter.
  • Memory chip prices have fallen dramatically this year due to a glut caused by oversupply and low demand for end products like smartphones and laptops.
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https://www.cnbc.com/2023/10/10/samsung-earnings-preview-q3-2023-chip-losses-weigh-on-profit.html