Samsung warns of weaker chip demand for phones, PCs as people shop less

Samsung Electronics Co Ltd cautioned chip demand from smartphone and PC makers would weaken further as people shop less, and that the more resilient demand from server clients may also see adjustments amid recession worries.

While the world’s top maker of memory chips and smartphones turned in its best April-June operating profit since 2018 on strong server chip demand, it said its mobile business saw profits weakening amid geopolitical issues, inflation concerns, and higher components and logistics costs.