{"id":27317,"date":"2023-01-08T09:44:27","date_gmt":"2023-01-08T09:44:27","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/uncategorized\/samsung-profits-plunge-as-demand-for-gadgets-slows"},"modified":"2023-01-08T10:56:45","modified_gmt":"2023-01-08T10:56:45","slug":"samsung-profits-plunge-as-demand-for-gadgets-slows","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/samsung-profits-plunge-as-demand-for-gadgets-slows","title":{"rendered":"Samsung profits plunge as demand for gadgets slows"},"content":{"rendered":"

Africa-Press – Gambia. <\/strong><\/span>Samsung expects its profits for the last three months of 2022 to fall by 69% to the lowest level in eight years.<\/b><\/p>\n

The world’s biggest maker of memory chips, smartphones and TVs forecast its operating profit for the period fell to around 4.3tn won ($3.4bn; \u00a32.8bn)<\/p>\n

It comes as the global economic slowdown hits memory chip prices and demand for electronic gadgets.<\/p>\n

Technology giants around the world have been hit in recent months as consumers tighten their belts.<\/p>\n

It was Samsung’s lowest quarterly profit since 2014 and missed investor expectations of around 5.9 trillion won.<\/p>\n

The South Korean company said it saw a bigger-than-expected fall in demand for computer chips as customers cut their stocks of the key components for digital devices.<\/p>\n

“For the memory business, the decline in fourth-quarter demand was greater than expected as customers adjusted inventories in their effort to further tighten finances,” Samsung said in the statement.<\/p>\n

“Smartphone sales and revenue decreased due to weak demand resulting from prolonged macro issues,” it added.<\/p>\n

Samsung is scheduled to publish its full financial statement on 31 January.<\/p>\n

It is the latest major technology company to reveal how weakness in the global economy is impacting its business.<\/p>\n

Sales have also slowed after demand boomed during the pandemic when customers at home spent a lot online.<\/p>\n

Tens of thousands of jobs are being shed across the global technology industry, amid slowing sales and growing concerns about an economic downturn.<\/p>\n

This week Amazon said it planned to axe more than 18,000 jobs, the largest number in the firm’s history, as it cuts costs.<\/p>\n

In November, Meta announced that it would cut 13% of its workforce.<\/p>\n

The first mass lay-offs in the social media firm’s history will result in 11,000 employees, from a worldwide headcount of 87,000, losing their jobs.<\/p>\n

Meta chief executive Mark Zuckerberg said the cuts were “the most difficult changes we’ve made in Meta’s history”.<\/p>\n

The news followed major layoffs at Twitter, which cut about half its staff after multi-billionaire Elon Musk took control of the firm in October.<\/p>\n

For More News And Analysis About Gambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Gambia. Samsung expects its profits for the last three months of 2022 to fall by 69% to the lowest level in eight years. The world’s biggest maker of memory chips, smartphones and TVs forecast its operating profit for the period fell to around 4.3tn won ($3.4bn; \u00a32.8bn) It comes as the global economic […]<\/p>\n","protected":false},"author":84,"featured_media":27316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[2355,2361,260],"class_list":["post-27317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-gambia","tag-gambia"],"yoast_head":"\nSamsung profits plunge as demand for gadgets slows - Gambia<\/title>\n<meta name=\"description\" content=\"Samsung expects its profits for the last three months of 2022 to fall by 69% to the lowest level in eight years. ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/gambia\/all-news\/samsung-profits-plunge-as-demand-for-gadgets-slows\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Samsung profits plunge as demand for gadgets slows\" \/>\n<meta property=\"og:description\" content=\"Samsung expects its profits for the last three months of 2022 to fall by 69% to the lowest level in eight years. ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/gambia\/all-news\/samsung-profits-plunge-as-demand-for-gadgets-slows\" \/>\n<meta property=\"og:site_name\" content=\"Gambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-08T09:44:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-08T10:56:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2023\/01\/postQueueImg_1673161647.33.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"976\" \/>\n\t<meta property=\"og:image:height\" content=\"549\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/samsung-profits-plunge-as-demand-for-gadgets-slows#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/samsung-profits-plunge-as-demand-for-gadgets-slows\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Samsung profits plunge as demand for gadgets slows\",\"datePublished\":\"2023-01-08T09:44:27+00:00\",\"dateModified\":\"2023-01-08T10:56:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/samsung-profits-plunge-as-demand-for-gadgets-slows\"},\"wordCount\":357,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/samsung-profits-plunge-as-demand-for-gadgets-slows#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2023\/01\/postQueueImg_1673161647.33.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Gambia\",\"Gambia\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/samsung-profits-plunge-as-demand-for-gadgets-slows#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/samsung-profits-plunge-as-demand-for-gadgets-slows\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/samsung-profits-plunge-as-demand-for-gadgets-slows\",\"name\":\"Samsung profits plunge as demand for gadgets slows - 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