Samsung's regulatory filing released on April 7 showed that the company's sales reached 63 trillion won, down 19 percent year-on-year. The company admitted that its performance has deteriorated in the parts industry, adding that demands for IT products continued to be sluggish.
In the case of memory semiconductors, the company said it has secured supplies capable of withstanding future demand fluctuations "We are lowering the production of memory chips by a meaningful level, especially that of products with supply secured," the conglomerate said in a statement.
Although Samsung has cut its production plan, the company said demands for semiconductors would be still solid in the mid-to-long term. The company aims to increase the investment proportion into semiconductor infrastructure and research and development.
In 2022, SK hynix, the world's second-largest memory chip producer, and U.S.-based memory semiconductor producer Micron Technology also unveiled their schemes to cut production in line with the shrinking semiconductor market.
© Aju Business Daily & www.ajunews.com Copyright: All materials on this site may not be reproduced, distributed, transmitted, displayed, published or broadcast without the authorization from the Aju News Corporation.