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Samsung Defies Chip Downturn With Aggressive Capital Spending

1Feb

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Technology

Samsung Defies Chip Downturn With Aggressive Capital Spending

[ad_1] Samsung made a surprisingly aggressive decision to keep capital spending at the same level as last year, defying expectations that it go along with rivals in pulling back to alleviate pressure on an already-battered semiconductor industry. Samsung Electronics Co. made a surprisingly aggressive decision to keep capital spending at the same level as last year, defying expectations that it go along with rivals in pulling back to alleviate pressure on an already-battered semiconductor industry. Chipmakers have been struggling with a historic slump in the price of memory, with consumers cutting back on purchases of gadgets months after pandemic-driven production ramp-ups kicked in. Inventory has piled up, forcing double-digit price slides that are erasing profit and forcing Samsu...

Samsung Profit Sinks 32% as Memory Chip Downturn Worsens

[ad_1] Samsung reported its first profit drop since 2019, underscoring the depth of a global PC and memory chip downturn. Samsung Electronics Co. reported its first profit drop since 2019, underscoring the depth of a global PC and memory chip downturn. Operating profit fell by 32% to 10.8 trillion won ($7.7 billion) for the three months ended September, South Korea's largest company said Friday in a statement. Analysts had estimated 12.1 trillion won on average. Sales also missed estimates, coming in at 76 trillion won. Samsung will provide net income and details of divisional performance with its full report at the end of this month. Global memory chipmakers warned in recent weeks that they are facing a tougher market as inventories build up and orders are being cut by data cent...

Samsung Woos US Chip Buyers With Tech Advances, Texas Focus

[ad_1] Samsung Electronics Co. announced an aggressive five-year plan to lure US chip buyers with more advanced technology. Samsung Electronics Co. announced an aggressive five-year plan to lure US chip buyers with more advanced technology, aiming to produce transistors that are just 1.4 nanometers wide by 2027.The company's chip contract-manufacturing unit -- known as a foundry -- is looking to triple its revenue by that year from the 2021 level, Executive Vice President Moonsoo Kang said at a briefing Monday in San Jose, California. To get there, the business will need to make several technological leaps and further inroads in the US market for outsourced chips. Samsung shares rose 4% in Seoul on Tuesday after falling by almost a third this year with rising costs and a downturn in t...