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Samsung warns of steep drop in profit.
The chip- and device-making behemoth has released preliminary earnings, and they don’t look great. According to Reuters:
Third-quarter profit could tumble 25 percent, the first year-on-year decline in nearly three years, as an economic downturn saps demand for electronic devices and the chips that power them.
Samsung’s chip earnings are estimated to fall 32 percent while its mobile business profit could drop by 17 percent this quarter.
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