Samsung quarterly profit set to fall 25%: analysts
STORY: Samsung Electronics' third-quarter profit could fall 25%.
That's according to more than 20 analysts ahead of the company's results Friday (October 6).
They project operating profits likely fell to $8.3 billion during the July to September quarter.
It would be Samsung's first drop in profit since early in the global health crisis.
Analysts also forecast operating profit for Samsung's chip business likely fell by nearly a third to about $4.8 billion.
The price of memory chips widely used in smartphones and PCs tumbled during the quarter.
Its key mobile business is also expected to follow a negative trend.
One analyst estimates Samsung's smartphone shipments dropped 11% in the quarter from the same period a year earlier.
It all comes as customers face rising inflation and interest rates, crimping spending on new gadgets.
Fears of recession have also grown along with uncertainty caused by Russia's invasion of Ukraine.
Shares in Samsung are down almost a third this year.
