Samsung warns of 32% hit to profits on chip slump

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Samsung warns of 32% hit to profits on chip slump
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Meanwhile, US chip maker AMD said its third quarter revenue would be $1bn less than forecasts.

Technology giant Samsung has warned of a 32% slide in its profits as demand for electronic devices and the memory chips that power them shrinks due to the global economic slowdown.On Thursday, US chip maker Advanced Micro Devices also said it was hit by a fall in demand for computers.Samsung's profits from its microprocessor making business suffered as the global price of memory chips plunged due to weakening demand for consumer electronics.

"The PC [personal computer] market weakened significantly in the quarter," AMD's chief executive Lisa Su said.AMD's shares fell by 4.5% in after-hours trading in New York.

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