Samsung's profit could be cut by 25%

Refinitiv forecasts that Samsung's third-quarter earnings could fall by 25% to $11.8 trillion.

won ($8.3 billion).This is expected to be the lowest earnings since early 2021. Chip revenues are also projected to fall by 32%, while profits earned by Samsung's mobile division are expected to fall by 17%. Experts attribute these results to the economic downturn, which is undermining the demand for electronic devices and chips, rising global inflation and lower demand associated with the expectation of a recession. Such forecasts were made by 22 Refinitiv analysts, evaluating the forthcoming report from Samsung. As the world's largest manufacturer of semiconductors, memory chips, OLED panels and mobile devices, Samsung is highly dependent on the overall health of the economy. This is expected to be the first decline in earnings since early 2020 and the lowest level since early 2021.