“Samsung expected to report 80% profit plunge as losses mount at chip business”
October 18, 2023
“…The South Korean technology giant will issue earnings guidance on Wednesday. Analysts polled by LSEG expect operating profit of 2.3 trillion Korean won ($1.7 billion) for the September quarter, a 78.7% year-on-year decline. Revenue is expected to come in at 67.8 trillion won, a fall of 11.6%, according to LSEG consensus forecasts…
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…”
https://www.cnbc.com/2023/10/10/samsung-earnings-preview-q3-2023-chip-losses-weigh-on-profit.html