{"id":42641,"date":"2023-04-08T16:47:48","date_gmt":"2023-04-08T16:47:48","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/samsung-to-cut-chip-production-with-profit-down-96"},"modified":"2023-04-08T16:53:47","modified_gmt":"2023-04-08T16:53:47","slug":"samsung-to-cut-chip-production-with-profit-down-96","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/samsung-to-cut-chip-production-with-profit-down-96","title":{"rendered":"Samsung to cut chip production with profit down 96%"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Samsung Electronics will cut memory chip production in the short term after estimating a 96% plunge in its quarterly profit amid the chip downturn.<\/p>\n

The South Korean tech giant\u2019s preliminary figures showed operating profit dove 600 billion won ($455 million) in January-March, from 14.12 trillion won a year earlier, the Yonhap News Agency reported on Friday.<\/p>\n

The world\u2019s largest chip producer said this stemmed from a slowdown in the global economy and lower demand for tech devices along with customers\u2019 inventory adjustments.<\/p>\n

\u201cWe are adjusting memory output to a meaningful level for products (so) that we have secured enough inventory to deal with future demand,\u201d the tech giant said.<\/p>\n

The company\u2019s shares gained more than 4% after the news it would cut chip-making.<\/p>\n

\u201cWhile we have adjusted our short-term production plan, we will continue to invest in infrastructure to secure clean rooms and expand R&D expenditures to strengthen our technology leadership as we forecast solid demand in the medium and long term,\u201d it said.<\/p>\n

Samsung\u2019s sales are projected to fall 19% year-on-year to 63 trillion won ($47.7 billion) in the first quarter of this year.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Samsung Electronics will cut memory chip production in the short term after estimating a 96% plunge in its quarterly profit amid the chip downturn. The South Korean tech giant\u2019s preliminary figures showed operating profit dove 600 billion won ($455 million) in January-March, from 14.12 trillion won a year earlier, the Yonhap News […]<\/p>\n","protected":false},"author":84,"featured_media":42640,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[234,236,233],"class_list":["post-42641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nSamsung to cut chip production with profit down 96% - Namibia<\/title>\n<meta name=\"description\" content=\"Samsung Electronics will cut memory chip production in the short term after estimating a 96% plunge in its quarterly pro ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/samsung-to-cut-chip-production-with-profit-down-96\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Samsung to cut chip production with profit down 96%\" \/>\n<meta property=\"og:description\" content=\"Samsung Electronics will cut memory chip production in the short term after estimating a 96% plunge in its quarterly pro ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/samsung-to-cut-chip-production-with-profit-down-96\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-08T16:47:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-08T16:53:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/04\/postQueueImg_1680956305.27.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/samsung-to-cut-chip-production-with-profit-down-96#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/samsung-to-cut-chip-production-with-profit-down-96\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Samsung to cut chip production with profit down 96%\",\"datePublished\":\"2023-04-08T16:47:48+00:00\",\"dateModified\":\"2023-04-08T16:53:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/samsung-to-cut-chip-production-with-profit-down-96\"},\"wordCount\":203,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/samsung-to-cut-chip-production-with-profit-down-96#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/04\/postQueueImg_1680956305.27.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/samsung-to-cut-chip-production-with-profit-down-96#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/samsung-to-cut-chip-production-with-profit-down-96\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/samsung-to-cut-chip-production-with-profit-down-96\",\"name\":\"Samsung to cut chip production with profit down 96% - 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