The South Korean tech giant’s earnings may seem huge to a layman: its operating profit is estimated at 600 billion won (about $456 million). However, this is the lowest figure in 14 years. Last year, for example, Samsung earned 14.12 trillion Korean won (about $10.7 billion).
As a result, the company said it has slashed memory chip production to “significant levels” to deal with oversupply.
Source: Ferra
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