Samsung forecast on Friday its operating profit plunged 32% in the third quarter of the year as weaker memory pricing and demand hit the technology giant.
Samsung forecast on Friday its operating profit likely plunged 32% in the third quarter of the year as weaker memory pricing and demand hit the technology giant.
However, one analyst said that memory cycle is "bottoming" and prices could rise again next year which will help Samsung.Samsung is facing headwinds from a global slump in deamand and prices for its memory chips, sales of which make up a large part of the South Korean technology giant's business.Samsung said Friday its operating profit likely plunged 32% in the third quarter of the year as weaker memory pricing and demand hit the technology giant.
Samsung reported a revenue rise of between 75 trillion and 77 trillion Korean won, a 1.3% to 4% year-on-year rise. The company sells NAND and DRAM chips which are used in devices such as laptops and smartphones, through to data centers. It also has a semiconductor manufacturing business. Samsung did not release any commentary alongside its third-quarter forecast but analysts said a weakening of memory chip prices and demand was likely behind the profit fall.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Warmer Afternoons Through Friday, Cooler This Weekend - Alabama NewsTemperatures trend warmer Wednesday afternoon, with highs in the low to mid 80s. Temperatures turn cooler overnight, with lows in the upper 40s to low 50s. Although, Thursday afternoon temperatures trend warmer.
Read more »
Art Attack: First Friday Welcomes the Spirits of Día De Los MuertosPaint the town!
Read more »
Glitch: An exciting new Netflix release is coming on Friday for K-drama fansOn October 7, Netflix is debuting a new K-drama: 'Glitch,' about a woman who can see aliens and whose boyfriend disappears because of them.
Read more »
REI makes closing its stores on Black Friday permanentOutdoor retailer REI announced Tuesday it is making its practice of remaining closed on Black Friday and paying its employees to go outside permanent.
Read more »
Ice Cube Says Warner Bros. Rejected Two of His Scripts for a New ‘Friday’ SequelThe star lamented the struggles he says he's endured in trying to move forward with a fourth film in the comedy franchise.
Read more »
Ice Cube Says Warner Bros. Rejected Two Friday Sequel Scripts: 'They F-cked It Up'IceCube says Warner Bros. rejected two scripts for a fourth Friday movie, titled Last Friday: 'They just f'd it up.'
Read more »