Tech sector recovery in doubt after Samsung reports weaker profits for sixth quarter in a row

The Korean technology giant has reported six straight quarters of declining profits as consumer demand remains weak

Shares in Samsung fell more than 2 per cent after the Korean company posted another set of weak results

Samsung, the South Korean consumer electronics giant, has posted its sixth straight quarter of declining operating profit, reflecting weak consumer demand and stoking uncertainty over the timing of a broader tech recovery.

Korea’s largest company reported a 35 per cent fall in operating income to $2.1 billion, about 24 per cent shy of analyst estimates. Revenue slid more than anticipated to $50.8 billion. For all of 2023, Samsung reported its slimmest operating profit in 15 ...