Strong Galaxy S23 sales can't compensate Samsung's biggest profit decline in a decade
Samsung is the world’s biggest smartphone manufacturer. It is also the largest supplier of AMOLED panels for smartphones. Other than this, the company is among the world’s largest memory chip suppliers. Despite its varied business, Samsung expected asignificant hit to its operating profits in Q1 2023due to an economic downturn and lower consumer spending. True to its forecast, the company has published its earnings for the first quarter of the year, where it has reported a massive 95% decline in profits....