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Month: April 2023

Samsung to cut chip production after posting lowest profit in 14 years

April 7, 2023Abhishek Sharma

Samsung Electronics said on Friday it would make a “meaningful” cut to chip production after flagging a worse-than-expected 96% plunge in quarterly operating profit, as a sharp downturn in the global semiconductor market worsens. Shares in the world’s largest memory chip and TV maker rose 3% in early trading, while rival SK Hynix shares surged […]

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