Tech giant blames slowing demand for its memory chips and smartphones

Samsung has issued a surprise profit warning, blaming a slump in memory chip prices and slowing demand for display panels. It is the latest sign that technology firms are facing tougher times amid a global economic slowdown.

The warning from the South Korean technology company comes two months after Apple shocked investors with its first profit warning since 2002, citing the “magnitude” of the economic slowdown in China.

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