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Samsung warns of worse than expected profits fall
The announcement comes as global demand for consumer electronics remains weak after the pandemic.
This was because of a build up of large stocks of the key electronic components in the wake of the pandemic, and slower sales for devices such as laptops and mobile phones. In the previous quarter, the same measure of profitability plunged by 95%, which triggered Samsung to cut the number of memory chips it planned to make. Samsung's warning on Tuesday comes as CES, the world's biggest consumer technology trade show, gets underway in Las Vegas.
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