January 08, 2023 - 8:00am | By Kyle Cornell
(Seoul) -- Samsung's quarterly profit fell to an eight-year low as a weakening world economy pounded prices for memory chips and cut into demand for electronic devices.
The world's biggest memory chip, smartphone, and TV maker announced Friday its profit for October through December, 2022 fell 69-percent to less than three-point-four billion dollars.
After the company reported its fourth-quarter profit, analysts expressed the expectation that Samsung's profits in the current quarter will shrink again.