Samsung to extend chip production cuts
Samsung Electronics
“Production cuts across the industry are likely to continue in the second half, and demand is expected to gradually recover as clients continue to de-stock their chip inventory,” Samsung, the world’s biggest memory chip maker, said in a statement. The comments eased concerns about chip oversupply and boosted Samsung shares by 1.7% and smaller rival SK Hynix’s shares by 9%.reported a ₩4.4-trillion loss in the April-June quarter, a continued divergence for what is normally the company’s most important cash cow. It had reported a ₩10-trillion profit a year earlier.
Samsung said it spent ₩14.5-trillion in capital expenditures during the second quarter, of which ₩13.5-trillion won was spent on chips.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Samsung doubles down on folding phones - TechCentralSamsung Electronics unveiled its latest foldable smartphones as it seeks to challenge Apple's dominance in the premium segment.
Read more »
How AI is rewriting the rules of $200-billion videogame industry - TechCentralMany fret about the impact of AI on industries from finance to healthcare. In videogames, the revolution has already begun.
Read more »
FNB experiences downtime - on payday for many - TechCentralFNB customers were having trouble accessing the bank’s digital channels on Tuesday.
Read more »
Musk explains why he's dumping the bird - TechCentralElon Musk has explained his decision to strip Twitter of its famous blue-bird logo as a move to remake the business.
Read more »
Massive brand value destruction at Twitter - TechCentralIt’s rare for corporate brands to become verbs. It’s rarer still for the owner of such a brand to announce plans to intentionally destroy it.
Read more »
iKhokha, Mastercard partner to drive contactless payments - TechCentralPromoted | iKhokha and Mastercard recently completed a project that resulted in a new case study on contactless payments in the local market.
Read more »