Samsung Electronics said Friday it’s cutting the production of its computer memory chips in an apparent effort to reduce inventory as it forecasted another...
SEOUL, South Korea — Samsung Electronics said Friday it’s cutting the production of its computer memory chips in an apparent effort to reduce inventory as it forecasted another quarter of sluggish profit.
The South Korean technology giant in a regulatory filing said it has been reducing the production of certain memory products by unspecified “meaningful levels” to optimize its manufacturing operations, adding it has sufficient supplies of those chips to meet demand fluctuations. Samsung had reported a near 70% drop in profit for October-December quarter, which partially reflected how global events like Russia’s war on Ukraine and high inflation have rattled technology markets.
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