FILE - The logo of Samsung Electronics is seen outside the Samsung Electronics Seocho building in Seoul, South Korea, on Oct. 25, 2020. Samsung Electronics said Friday, April 7, 2023, its cutting the production of its computer memory chips in an apparent effort to reduce inventory as it forecasted another quarter of sluggish profit. –
Samsung, which will release its finalized first quarter earnings later this month, said the demand for its memory chips declined as a weak global economy depressed consumer spending on technology products and forced business clients to adjust their inventories to nurse worsening finances. “While we have lowered our short-term production plans, we expect solid demand for the mid- to long-term, so we will continue to invest in infrastructure to secure essential levels in clean room capacities and expand investment in research and development to strengthen our technology leadership,” Samsung said.
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