SEOUL — Samsung Electronics Co. 005930, said it expects its fourth-quarter profit to plunge as the firm’s mainstay memory-chip and smartphone businesses face a sharp pullback in demand, showing the extent of the global tech downturn after pandemic highs. The South Korean tech giant on Friday forecast its operating profit in the quarter ending Dec. 31 to drop…
SEOUL — Samsung Electronics Co. saw profits slump as prices of memory chips, its main source of income, have plunged as the semiconductor industry goes through a downturn. The South Korean tech giant on Thursday posted a 23.6% decline in net profit in the third quarter compared with the prior year, owing to weak demand for tech…
SEOUL — Samsung’s de facto leader, Lee Jae-yong, will receive a pardon on Monday, South Korea’s presidential office said, a legal reprieve underpinned by expectations that the business tycoon will help propel the nation’s economy. Lee, twice imprisoned for bribing South Korea’s former president, will have his criminal record from his 2017 conviction wiped clean. But…
SEOUL — Samsung Electronics Co.’s string of record results is expected to end, as the global tech boom slows amid rising inflation and economic uncertainties. On Thursday, the South Korean tech giant — which had reported record revenues in the past three straight quarters — forecast a 11.4% rise in second-quarter operating profit from the prior year….