Samsung Slashes Profit Expectations
Shares of Samsung Electronics fell today after the consumer electronics giant warned about its fourth-quarter results. It now expects a 35% YoY decline in operating profit during the fourth quarter of 2023, coming in at 2.8 trillion South Korean won vs. 4.31 trillion a year ago. 🔻
Given it is the country’s largest company and the world’s largest maker of dynamic random-access memory chips, analysts closely watch it as a bellwether for the consumer electronics industry. 👀