Operating income fell to US$1.8 billion on a 12.7% slide in sales in the three months to September.
Samsung’s record profits in recent years were marred by the impact of soaring inflation and interest rates on memory chip sales.
Operating profits of 2.4 trillion won were expected for the July-September period, the South Korean tech giant said in a statement, down 77.9% from a year earlier.The firm is the world’s largest smartphone maker and the flagship subsidiary of Samsung Group, by far the largest of the family-controlled conglomerates that dominate business in Asia’s fourth-largest economy.
Demand swelled during the pandemic as consumers bought computers and smartphones during lockdowns, prompting chipmakers to ramp up production.
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