Samsung's Quarterly Profits Down 95 Percent From Last Year; Company Blames Slow Consumer Spending, Chip Glut

Samsung's Quarterly Profits Down 95 Percent From Last Year; Company Blames Slow Consumer Spending, Chip Glut
Samsung Electronics on Thursday reported its worst quarterly profits in 14 years, blaming slowing consumer spending on electronics and a global microchip glut that hit its core memory business.