Samsung Electronics’ third-quarter profit is expected to drop 80% from a year earlier as the effects of an ongoing global chip glut drive losses in what is usually the South Korean tech giant’s cash cow business. The world’s biggest maker of memory chips, smartphones, and televisions will announce its third-quarter preliminary earnings results on Wednesday. Operating profit likely fell to 2.1 trillion won ($1.56 billion) in the July-September period, according to an LSEG Smart estimate from 19 analysts, weighted toward those who are more consistently accurate. Samsung, the largest maker of memory chips and a significant smartphone supplier for companies … Continue reading Samsung Chips Take a Beating, Profit Set to Slump 80%