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Samsung Expects Chip Demand to Recover in 2023 as Q3 Profits Fall, Names Lee Jae-Yong Executive Chairman

Samsung on Thursday said Q3 operating profits fell 31.39 percent year-on-year, as "demand for consumer products remained weak". The South Korean company also announced that Samsung heir and de facto leader Lee Jae-yong, who received a presidential pardon in August over a fraud conviction, would be promoted to executive chairman.

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