Samsung slashes profit guidance, creating further uncertainty in tech industry

“Samsung Electronics dramatically cut its guidance for fourth-quarter profits Tuesday as demand falls for its memory chips and smartphones” writes Reporter Covering National for One of the pillars of the tech industry, Samsung makes its own products and supplies components to other tech juggernauts such as Apple.Samsung emphasized that sales of memory chips were likely to improve later in the year as new smartphones are released.Memory chips make up the lion’s share of the company’s profits and more than a third of its sales.Samsung had made record profits over the past year and a half thanks to a boom in smart devices around the world.

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