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The world’s largest maker of smartphones projected a 35% year-over-year fall in fourth-quarter operating profit on Tuesday amid weak demand for consumer electronics, which has been crimped by high inflation.
Samsung will now reduce its memory chip production as it projects its lowest profit since 2009. Samsung Electronics, the world's largest memory chip maker, is facing a major setback as it anticipates its lowest operating profit since the first quarter of 2009, according to a report by TechCrunch on Friday, April 7.
Samsung will respond to the uncertainty by "flexible" deployment of short-term capital expenditure and disciplined supply of chips to fit demand, Jin-man Han, executive vice president at Samsung's memory chip business, said.