Published 1 year ago

Samsung's 4th-Quarter Profit Hits 8-Year Low

Summary by Ground News

Samsung's Q4 profits plummeted 69 percent year over year, down to 4.3 trillion Korean won, or $3.5 billion. That's an eight-year low, going back to Q3 2014. Samsung also flagged smartphone demand as a declining business, a downturn that hit both the company's self-branded Galaxy division and the display division.

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Associated Press News

Samsung's profit plummets amid global economic woes

SEOUL, South Korea (AP) — Samsung Electronics said Tuesday its profit for the last quarter plummeted nearly 70% as a weak global economy depressed demands for its consumer electronics products and computer memory chips.

1 year ago·United States

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Irish Independent

Samsung’s profit plummets amid global economic woes

Samsung Electronics said on Tuesday that its profit for the last quarter plummeted nearly 70% as the weak global economy depressed demand for its consumer electronics products and computer memory chips.

1 year ago·Ireland

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KIFI

Samsung's profit plummets amid global economic woes

SEOUL, South Korea (AP) — Samsung Electronics says its profit for the last quarter plummeted nearly 70% as a weak global economy depressed demands for its consumer electronics products and computer memory chips. The South Korean company’s operating profit of $3.5 billion for the three months through December was a 69% decline from the same period a year earlier. That was its lowest quarterly profit since the third quarter of 2014. Revenue fell 8…

1 year ago·Idaho Falls, United States

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South China Morning Post

Samsung profit plunges 90 per cent amid chip market crash

South Korea’s largest company has been struggling with a historic slump in the price of memory as inventories pile up after a pandemic-fuelled surge.

1 year ago·Hong Kong

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Channel News Asia

Samsung Q4 profits plunge 69% to 8-year low on demand slump

SEOUL: Samsung Electronics Co Ltd on Tuesday (Jan 31) reported its lowest quarterly profit in eight years and said persistent macroeconomic uncertainty will make for a tough first half year, though demand is likely to start recovering in the second half. Sluggish demand and inventory adjustment will contin

1 year ago·Singapore

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