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Samsung profits plunge as smartphone and chip businesses struggle

Hong Kong (CNN Business)It’s not just Apple Samsung is hurting, too. China, the world’s largest smartphone market, is experiencing a deepening economic slowdown that’s affecting businesses around the world. As well as selling its own phones, Samsung supplies key parts like chips and display screens to other major device manufacturers. Apple’s latest iPhones use Samsung’s OLED screens. The South Korean company said it expects operating profit for the fourth quarter of 2018 to come in at 10.8 trillion won ($9.6 billion), compared with about 15.2 trillion won ($13.5 billion) in…

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