• Latest
  • Trending
Samsung Reduces Memory Chip Output During Economic Slowdown 

Samsung Reduces Memory Chip Output During Economic Slowdown 

April 10, 2023
Orange Egypt partners with mnGm to introduce gold trading via mobile wallets

Orange Egypt partners with mnGm to introduce gold trading via mobile wallets

September 26, 2025
BII injects $20 million into Acumen initiative targeting Africa’s off-grid communities

BII injects $20 million into Acumen initiative targeting Africa’s off-grid communities

September 26, 2025
PesaLink and Tendepay join forces to digitise enterprise payments in Kenya

PesaLink and Tendepay join forces to digitise enterprise payments in Kenya

September 26, 2025
How Africa’s Gen Z founders are building startups before graduation

How Africa’s Gen Z founders are building startups before graduation

September 26, 2025
YouTube now lets viewers turn off video end screens

YouTube now lets viewers turn off video end screens

September 26, 2025
Apple iPhone 18 Pro rumours: Design, performance, and camera upgrades

Apple iPhone 18 Pro rumours: Design, performance, and camera upgrades

September 26, 2025
South African investment giant raises caution on Bitcoin ETF risks

South African investment giant raises caution on Bitcoin ETF risks

September 26, 2025
OpenAI’s ChatGPT Pulse now available for Pro users

OpenAI’s ChatGPT Pulse now available for Pro users

September 26, 2025
MSport 2025

MSport 2025: Nigeria’s #1 Sports Betting Site, Powered by Chelsea & BVB

September 25, 2025
MNT-Halan introduces Egypt’s first secure lending solution via Halan App

MNT-Halan introduces Egypt’s first secure lending solution via Halan App

September 25, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Tech News Africa Tech News

Samsung Reduces Memory Chip Output During Economic Slowdown 

Hauwa Ali by Hauwa Ali
April 10, 2023
149 1
0
Samsung Reduces Memory Chip Output During Economic Slowdown 
465
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

Samsung Electronics has revealed plans to reduce memory chip production after projecting a 96% decline in quarterly operating profit. 

The South Korean electronics behemoth disclosed this on Friday as it reported its lowest profit statistics since 2009, forecasting more declines in memory chip sales globally.

According to the corporation, sales have declined significantly due to a slowing global economy and lower demand following Covid.

When demand for consumer gadgets spiked during the pandemic, smartphone and personal computer manufacturers stocked up on chips while other consumers made alternate purchases to use at home. Rising inflation has caused buyers to cut back on purchases, prompting the corporation to run down stocks as it has experienced shortages in recent years.

RelatedPosts

Samsung’s Galaxy devices could soon detect early signs of Alzheimer’s

Samsung’s new 100-inch AI TV arrives in Kenya

Samsung’s 2025 Neo QLED and OLED TVs debut in South Africa with advanced AI features

Read also: Samsung’s Flex Hybrid pushes foldable phone

Cutting to a meaningful low

While Samsung did not specify by how much it would cut down chip production, it however said the cut would be “meaningful”.

“We are lowering the production of memory chips by a meaningful level, especially that of products with supply secured,” the company said in a statement.

Although cutting short-term production, Samsung said it was still making long-term investments in infrastructure and research to secure needed clean rooms for chip production and expand its technological lead.

Having previously flagged capital spending similar to the 53.1 trillion won investment in 2022, Samsung did not say how its 2023 investment plans would be affected by the new development.

The announcement is the latest sign that deteriorating global economic conditions are hitting chip makers like Samsung and SK Hynix, which have enjoyed years of record-breaking profits on furious chip demands.

Samsung’s profits in January-March are expected to decline to $455m, a 14-year low, the company said in a regulatory filing, pointing to “continuing weak demand for IT products that have aggravated the performances of all sectors”.

Samsung saw profits fall by nearly 70 percent in the final quarter of 2022, which was blamed on headwinds including Russia’s war in Ukraine and high inflation.

Samsung Plans to make Semiconductor chips more Efficient

Samsung’s chip loss record

Samsung’s latest record shows the lowest profit for any quarter in 14 years as its operating profit fell to 600 billion won ($455.5 million) in January-March, from 14.12 trillion won a year earlier.

Analysts have estimated that first-quarter profit fell short of 873 billion won Refinitiv SmartEstimate, its chip division, is likely to report a record loss of 2.1 trillion won ($1.6 billion), according to an average of analyst forecasts and post another 2 trillion won loss in the current quarter, a major divergence for what had been Samsung’s most important cash cow, generating about half of its profits in better years.

Samsung Group is the biggest of the family-run conglomerates that hold significance over South Korea’s economy, accounting for roughly one-fifth of the gross domestic product (GDP). 

Investors are hopeful of a market recovery in the semiconductor industry as Analysts said Samsung’s production cut might improve its performance slightly in the current quarter and could also cement or hasten the rebound of memory chip prices. The company is due to release detailed earnings, including divisional breakdowns, later this month.

Tags: Memory ChipSamsung
Hauwa Ali

Hauwa Ali

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.