Samsung suffers from falling demand: Galaxy makers with significant drop in profits

Electronics giant Samsung earned significantly less in the third quarter of 2022 amid falling demand for memory chips and falling prices. The surplus fell 23.6 percent year-on-year to 9.39 trillion won (about 6.6 billion euros), the South Korean company said Thursday.

In particular, the weakness in the PC market and also the decline in demand for mobile devices and televisions impacted the chip business. Samsung Electronics is the market leader in smartphones, memory chips and televisions.

Sales rose 3.8% to 76.78 trillion won (53.8 billion euros) in the third quarter, according to reports. The company expects full-year sales to surpass the previous peak in 2021.

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