Citing a slowdown in China’s economy and a trade war between the U.S. and China, Samsung forecast a decline in operating profits for the fourth quarter, marking the first time in two years it had to issue a warning.
The Financial Times, citing Samsung, reported the South Korean consumer electronics giant said the issues in China and the trade war have resulted in lower demand for chips and smartphones. Citing “mounting macro uncertainties,” the FT reported Samsung said global demand was worse than the company expected as large tech firms made adjustments to investments in data centers.
