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Samsung Electronics reaffirmed Tuesday that there will be no artificial production cut in its memory semiconductor production, even though the chip giant suffered from plunging profits in the fourth quarter of 2022. Instead, the company aims to proactively respond to chip demand, which it projects will recover in the future. In its earnings announcement, Samsung said fourth quarter sales dropped 7.97 percent year-on-year to 70.46 trillion won ($57.22 billion), while operating profit plunged 68.5 percent to 4.31 trillion won.

Samsung has announced its financial results for the fourth quarter of 2022 and also for the full year of 2022. The company reported consolidated revenue

South Korean tech giant Samsung Electronics on Thursday said its third-quarter operating profits were down 31.39 percent year-on-year after a global economic downturn hit demand for consumer electronics. Earnings in its crucial memory chips division were down, the company said in a statement, adding that "demand for consumer products remai...

South Korean tech giant Samsung Electronics on Thursday said its third-quarter operating profits were down 31.39 per cent year on year after a global economic downturn hit demand for consumer electronics

South Korean tech giant Samsung Electronics on Thursday said its third-quarter operating profits were down 31.39 percent year-on-year after a global economic downturn hit demand for consumer electronics.