Samsung is clearly feeling the recession, with sales down -69% year-on-year.
Not so well sold; Image: Samsung
Samsung posted its lowest sales since 2014, clearly feeling the recession. The company reported sales of $3.37 billion. In the same time last year, Samsung posted sales of $10.88 billion. More figures will be released on January 31.
Smartphones and chips in particular have failed to hold their own against the recession, analysts said. Demand has fallen sharply due to rising interest rates and the rising cost of living. These figures also show that other big tech companies, such as Samsung customer Apple, are going through a difficult time.
