Sales fall at world’s biggest memory chip maker amid decline in global demand for semiconductors
Samsung Electronics will cut back on chip production, as it faces a sharp decline in global demand for semiconductors that has sent prices plunging.
The world’s biggest memory chip maker said it would make a “meaningful” cut to chip output after sales dropped sharply and it flagged a 96% drop in first-quarter profits, worse than expected. The fellow South Korean firm SK Hynix and Micron Technology of the US have also reduced production.
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Originally posted in the guardian.
