Samsung projects lowest profits in 8 years owing to weak smartphone demand

Samsung projects lowest profits in 8 years owing to weak smartphone demand

Samsung logo Galaxy Z Flip 4 hinge

Credit: Robert Triggs / Android Authority
  • Samsung is projecting its lowest quarterly profit in eight years.
  • The slump comes from a weakened demand for chips and smartphones.
  • Samsung blames the current global economic situation, high cost of living, and rising interest rates for the situation.

Earlier today, Samsung reported that its fourth-quarter profit would slump to an eight-year low owing to weak chip and smartphone demand amidst the bruised global economic situation.

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