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  • Samsung Vows to Cut Chip Production Amid Global Downturn in Demand; Shares Surge 4.5 Percent

    Samsung Vows to Cut Chip Production Amid Global Downturn in Demand; Shares Surge 4.5 Percent

    Samsung Electronics said on Friday it would make a “meaningful” cut to chip production, following the lead of smaller rivals, as it grapples with a sharp global downturn in semiconductor demand that has sent prices plummeting. The unusual output cut by the world’s biggest memory chipmaker – with no previous announcement recalled by Samsung officials […] More