peterhanbury
Samsung Electronics is stopping its memory chip production after estimating a drop of 96 per cent in its quarterly operating profit. The chip-making titan said sales had plunged due to slow global economy and less demand after the Covid pandemic. Samsung also said its preliminary numbers showed operating profits fell £366 million from January to March. It added: “We are lowering the production of memory chips by a meaningful level, especially that of products with supply secured.” Analyst Peter Hanbury from management consultancy Bain and Company told the BBC: “When the overall economy slowed ...
BANG Showbiz English
Samsung Electronics are to cut memory chip production "by a meaningful level" following an estimated 96% drop in its quarterly operating profit. The tech giant said preliminary numbers showed operating profits fell by around £366 million January-March, blaming a drop in sales on a slow global economy and a lower demand since the COVID-19 pandemic. They said in a statement: "We are lowering the production of memory chips by a meaningful level, especially that of products with supply secured." Despite the announcement, the firm's shares rose more than 4%. The COVID-19 pandemic saw a surge in dem...
BANG Showbiz English
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