The global economic slowdown has hit memory chip prices and demand for electronic gadgets. Because of this, Samsung expects its profits from the last three months of 2022 to have fallen by 69%. This is the lowest it has reached in eight years. Samsung stated that consumers had cut their stocks of the critical components for digital devices. They will officially publish their full financial statement on the 31st of January. Samsung isn’t the only company struggling, as thousands of workers worldwide are laid off in the technology industry.
