Samsung Cuts Memory Chip Output Due To Weak Demand

Samsung Electronics says it is reducing memory chip production after logging a 95.8% plunge in first quarter operating profit from the same period last year, Nikkei reported.

Photo Insert: "Demand for memory has declined due to the macroeconomic situation and low consumer sentiment," as per the tech giant.

"The company is cutting memory production volumes to a meaningful level," the South Korean company said as the demand in domestic and global markets retreats.

"Demand for memory has declined due to the macroeconomic situation and low consumer sentiment," Samsung admitted, as the market is awash with a glut of electronic products.

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