Samsung Electronics, the world's largest memory chip, smartphone and TV maker, has forecast its worst profit decline in about a decade. It has been hit on several fronts by a weakening global economy. Samsung is expecting operating profits to slide almost 70% on-year to $3.4 billion for the December quarter, from a year earlier. That misses analyst estimates of $5.3 billion by a wide margin, and would be the lowest profit since the third quarter of 2014. The report by Samsung -- a bellwether for global consumer demand -- has set a weak tone for other tech firms' quarterly results.
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