Samsung offers a glimpse of 2016's tech slowdown
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SAMSUNG's disappointing year-end is a preview of this year's tech slowdown. The world's largest smartphone and memory group said on Jan 8 that operating profit for the fourth quarter was 6.1 trillion won (S$7.3 billion), below expectations. Weaker demand for its gadgets is a likely factor. But Samsung also faces falling prices and overcapacity in chips and television displays.
The South Korean US$162 billion tech behemoth is already feeling the chill from the slowdown in demand for smartphones. Though it likely shipped the same number of handsets in 2015 as in the previous year, lower prices could drag operating profit in the division down by 30 per cent, according to analysts at BNP Paribas.
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