Samsung Electronics will cut memory chip production after estimating a 96 per cent drop in its quarterly operating profit.
According to The BBC, the chip-making giant said sales had dropped sharply due to a slow global economy and less demand after COVID-19.
Samsung said preliminary numbers showed operating profits fell 600bn won (£366m) in January-March, from 14tn won the previous year.
The firm’s shares rose more than four per cent despite the decision to slow…
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