South Korea's largest company has been grappling with a historic plunge in memory prices as consumers cut back on gadget purchases amid soaring interest rates and inflation. Inventories have piled up, forcing double-digit price declines that have exacerbated losses. The business environment deteriorated significantly in the fourth quarter as demand weakened due to the global economic slowdown," the company said in a press release Tuesday, adding that in the semiconductor business, earnings are expected to fall by a quarter in the first quarter as plant utilization declined. The world's largest memory chip maker, which supplies displays and semiconductors for Apple's iPhone, said it sees "a potential recovery in mobile demand in the second half of the year" as customers seek gadgets with more storage space. The Galaxy device maker said smartphone market demand could contract in 2023, dragged down by mass-market handsets. Profit at Samsung's key chip
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