Samsung Electronics posts its first ever quarterly loss

Samsung Electronics posts its first ever quarterly loss

South Korean tech giant Samsung has now posted its first ever quarterly loss.

They are the latest tech company to have suffered a loss due to diving prices and slumping demand.

The company posted a fourth quarter operating loss of 937 billion won. This is double the figure expected by market experts.

Market analyst Lee Jeong spoke about Samsung’s figures: “Samsung will likely bleed more, if not suffer wider losses, as the global economy is expected to slump further well into the first half of this year. Although there are signs that the prices of chips and LCD panels have stabilized recently, it’s hard to predict when they will pick up, given the bleak outlook for the global demand.”