In an unexpected twist of fate, Samsung Electronics, a cornerstone of the global tech industry, is poised to experience a drastic 80% plunge in its third-quarter profit. This staggering downturn is attributable to the ongoing global chip glut, a phenomenon that has sent shockwaves through the South Korean tech giant’s traditionally flourishing business. The normally dependable cash cow, Samsung’s profit, is expected to freefall to KRW2.1tn ($1.56bn) in the July-September quarter, according to LSEG’s SmartEstimate, drawing insights from 19 industry analysts, with a preference for those known for unwavering accuracy.