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Samsung’s terrible financial year continues.

Net profit fell 73 percent last quarter resulting in its weakest annual earnings since 2009, according to the WSJ. The culprit, again, was memory chips, but demand is expected to recover in 2024. Samsung’s premium Galaxy S24 series also saw record preorders which could boost the bottom line if its AI deal with Baidu in China can increase Samsung’s negligible smartphone marketshare in the country it once dominated.