this post was submitted on 11 Oct 2023
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Samsung expected to report 80% profit plunge as losses mount at chip business (www.cnbc.com)
submitted 2 years ago by L4s@lemmy.world to c/technology@lemmy.world
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Samsung expected to report 80% profit plunge as losses mount at chip business::The semiconductor business — typically Samsung's cash cow — is likely to see continued pressure as memory prices and demand for end products remain low.

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[–] ArbiterXero@lemmy.world 57 points 2 years ago (1 children)

But still a profit. Just not as much of profit as last year.

We are making money, but not as much money as I want. SMITHERS! Fire people randomly until I feel better about only making a few billion, instead of a hundred billion.

[–] 1984@lemmy.today 27 points 2 years ago (1 children)

The entire economy is about companies making higher and higher profits, and if they don't, economists worry it's a stagnation. Lol. We really are quite fucked.

[–] thrawn@lemmy.world 7 points 2 years ago

I agree that the hamster wheel of infinitely increasing profits is bad. But even in a better world where companies weren’t expected to report record profits every single quarter, an 80% drop would still be rather alarming.