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World Business Report: First broadcast 07/04/2023 14:32 GMT : Samsung cutting chip production

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Samsung cutting chip production

First broadcast 07/04/2023 14:32 GMT 

First broadcast 07/04/2023 14:32 GMT : Samsung cutting chip production

BBC World Service - World Business Report, Samsung cutting chip production

The firm's shares rose more than 4% despite the decision to slow chip-making

Samsung Electronics will cut memory chip production after estimating a 96% drop in its quarterly operating profit.

Samsung Electronics announced that it would make a "meaningful" cut to chip production after flagging a 96% plunge in quarterly operating profit.

The chip-making giant said sales had dropped sharply due to a slow global economy and less demand after Covid.

(Picture: Repairing and upgrade Samsung mobile phone, electronic, computer hardware and technology concept. Picture Credit: Getty Images)

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First broadcast 07/04/2023 14:32 GMT : Samsung cutting chip production

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