Samsung Suffers Loss

Samsung Suffers Loss

OpenLife Nigeria has gathered that South Korean technology company ,Samsung Electronics , on Friday, said that its operating profit likely fell more than 30% in the third quarter.
The company added that an unusually high inflation has squeezed global demand for semiconductors, smartphones and home appliances.
There is also an all-time low chip demands.
In issuing earnings guidance, the South Korean company forecast that its operating profit declined 31.7% to 10.8 trillion and won ($7.7 billion) for the three months through September from the same period last year.
It estimates that its revenue, which rose by 2.7% to 76 trillion won during the same period.
Samsung Electronics is a South Korean multinational electronics corporation headquartered in Yeongtong-gu, Suwon.
It was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades, the group diversified into areas including food processing.

Source: Nikkei