Samsung Electronics, a leading South Korean technology giant, revealed that its anticipated profit for the third quarter of 2024 is set to disappoint investors on October 7.

Samsung posts disappointing third-quarter profit guidance amid market challenges

Samsung, one of the biggest electronics brands in the world, is now struggling to handle its chip production arm as its shares plunge by 96%. The Korean giant is sitting on huge inventories after a build-up to meet the expected pent-up demand post-COVID did not materialise.

Samsung to cut chip production after profits hit 14-year low

Samsung Electronics is expected to report a 92 percent Plunge in its first quarter profit that will be the lowest for any quarter in 14 years for the world's biggest maker of memory chips TVs and smartphones the decline is due to a cheap glut resulting in lower memory chip prices and inventory value.

Samsung Q1 to mark WORST quarterly performance in 14 years

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samsung profit

Samsung posts disappointing third-quarter profit guidance amid market challenges

Samsung to cut chip production after profits hit 14-year low

Samsung Q1 to mark WORST quarterly performance in 14 years