Hong Kong (CNN Business) Samsung is the latest tech giant to warn that its business is suffering. It blamed the sharp drop on "lackluster demand" for its memory chips and "intensifying competition" in the smartphone industry. Samsung, the world's largest smartphone maker, didn't mention China specifically in its earnings guidance on Tuesday, but it said "mounting" macroeconomic uncertainties are affecting its business. Shares in Samsung ended the day down about 1.7% in Seoul. The stock lost nearly a quarter of its value last year.

Source: CNN January 08, 2019 03:52 UTC