On Wednesday, technology giant Samsung announced its operating profit dropped by 78% in the company’s third financial quarter.
The company’s new earnings report placed its operating profit at $1.8 billion in Q3, down from $8 billion year-over-year.
The news comes after Samsung’s operating profit declined 95% in Q1.
Samsung’s profits are expected to continue to be hit as global consumers keep tightening their wallets amid economic uncertainty.
