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Profits plummeted 80%! Samsung Unlimited exports to China SSD production cuts and price increases hit domestic

via:快科技     time:2023/10/10 9:02:06     readed:188

On October 9, local time, South Korea officially notified that the United States agreed to Samsung Electronics and SK Hynix to provide equipment to their factories in China without other licenses.

For Samsung, this is undoubtedly good news, because they are currently losing money on memory chips, which helps them to increase product promotion in the Chinese market, and also to better control the price.

Samsung Electronics' third-quarter profit is expected to fall 80 percent from a year earlier, as the lingering impact of a global chip supply glut pushes the South Korean tech giant's cash cow business into the red, according to local media reports.

The chip division, Samsung's biggest profitable unit, may report a quarterly loss of 3 trillion to 4 trillion won after prices for memory chips bottomed out and did not recover as quickly as some had predicted.

After first announcing production cuts in April, analysts said Samsung further cut production in the third quarter to reduce inventories, while also looking to raise prices to guide the overall market.

However, some analysts said that Samsung, SK Hynix and other companies in the Chinese market may not be as easy as they think, because the competitiveness of local manufacturers has long been improved.


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