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Samsung Sees Declining Quarterly Profits

  • Reuters, Wednesday, April 29, 2020 9:50 AM
Samsung expects profit to decline in the current quarter due the pandemic, Reuters reports. “The South Korean conglomerate joined other tech giants such as SK Hynix and Intel in declining to provide annual forecasts because of the uncertainty about the duration of the pandemic,” it writes. “It said that while work-from-home orders and the related growth in online learning would underpin demand for memory chips, the outlook for smartphones and TVs was bleak as consumers put off discretionary spending.”

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