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☆ Samsung Electronics' operating profit jumps 932.8% in first quarter, beats expectations
▼ + stars: | 2024-04-30 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +4 min

Samsung Electronics Co. Galaxy S24 smartphones during a media preview event in Seoul, South Korea, on Monday, Jan. 15, 2024. Here are Samsung's first-quarter results versus LSEG estimates: Revenue: 71.92 trillion Korean won (about $52.3 billion), vs. 71.04 trillion Korean won71.92 trillion Korean won (about $52.3 billion), vs. 71.04 trillion Korean won Operating profit: 6.61 trillion Korean won, vs. 5.94 trillion Korean won Samsung's revenue for the quarter ending March jumped 12.81% from a year ago, while operating profit soared 932.8% in the same period. The figures were in line with the company's guidance earlier this month, where Samsung said operating profit in the January-March quarter likely rose to 6.6 trillion Korean won, up 931% from a year ago. The South Korean electronics giant saw record losses in 2023 as the industry reeled from a post-Covid slump in demand. Operating profit increased to KRW 6.61 trillion as the Memory Business returned to profit by addressing demand for high value-added products," Samsung Electronics said in a statement on Tuesday.

Persons: SeongJoon Cho, SK Kim, Kim, TSMC, Biden Organizations: Samsung Electronics Co, Samsung, Bloomberg, Getty, Samsung Electronics, Memory Business, SK, Daiwa, CNBC, Micron, Citi, —, Japan's Rapidus Corporation Locations: Seoul, South Korea, Korean, Taiwan, Texas, U.S, Asia

☆ Samsung reportedly tells executives they're working 6 days a week now
▼ + stars: | 2024-04-18 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +3 min

Samsung Group is introducing a six-day workweek for executives, according to a recent report. AdvertisementWhile some companies are embracing four-day workweeks, Samsung Group is reportedly moving in the opposite direction — at least for executives. Samsung Group is implementing a six-day workweek for executives across all of its divisions, with some starting as early as this week, according to a new report from The Korea Economic Daily. Some executives at other divisions have already been working six-day weeks voluntarily since the start of the year, the Daily said. Samsung Electronics executives will have the option of coming in either Saturday or Sunday, according to the report.

Persons: —, weathers Organizations: Samsung, Apple, Service, Samsung Group, Korea Economic, South, South Korean, Samsung Electronics Co, Daily, Samsung Electronics, Employees, IDC, Reuters, SK Group, SK Hynix Locations: South Korea, Korean

☆ Biden gives Samsung $6.4 billion in grants to boost Texas chip output
▼ + stars: | 2024-04-15 | by ( ) edition.cnn.com time to read: +3 min

Reuters —The Biden administration will award up to $6.4 billion in grants to South Korea’s Samsung Electronics to expand its chip production in central Texas as part of a broader effort to boost US chipmaking, the Department of Commerce said on Monday. The funding from the 2022 Chips and Science Act will support two chip production facilities, a research center and a packaging facility, in Taylor, Texas, the agency said, as previously reported by Reuters. It will also enable Samsung to expand its Austin, Texas, semiconductor facility, Commerce Department Secretary Gina Raimondo added, while boosting chip output for the aerospace, defense and auto industries and bolstering national security, administration officials told reporters. Samsung is expected to invest roughly $45 billion in building and expanding its Texas facilities through the end of the decade, said senior administration officials. Intel won $8.5 billion in grants last month while Taiwan’s TSMC clinched $6.6 billion in April to build out its American production.

Persons: Reuters —, Biden, Gina Raimondo, ” Raimondo, Kyung Kye Hyun, “, Samsung, ”, John Cornyn, Taiwan’s TSMC Organizations: Reuters, South, Samsung Electronics, Department of Commerce, Samsung, Commerce, Samsung Electronics Co, Analysts, Semiconductor Industry Association, SIA, Lawmakers, Texans, Republican, US Commerce Department, ” SIA, Intel Locations: Texas, Taylor , Texas, Austin , Texas, United States, China, Taiwan, Republican U.S

☆ Samsung says it needs to 'redefine' its voice assistant Bixby with generative AI upgrade
▼ + stars: | 2024-04-01 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

"So Bixby has been a key voice assistants voice assistant for Samsung not just for the mobile devices, but also for TVs and digital appliances that exist in Samsung's ecosystem. So it has been the core voice assistant assistant so far," Won-joon Choi, executive vice president at Samsung's mobile business, told CNBC in an interview last month. Choi did not give a timeline when Bixby may get generative AI features, but said that Samsung is "working so hard" to deliver them. Samsung's focus on the technology comes at a time when investors are scrutinizing what Apple will deliver when it comes to generative AI. Apple announced it would hold its annual developers conference, WWDC, in June, when the company is largely expected to talk up some AI features across its products.

Persons: SeongJoon Cho, Bixby, Samsung's Bixby, joon Choi, Choi Organizations: Samsung Electronics Co, Samsung, Bloomberg, Getty, CNBC, Galaxy, Google, Apple Locations: Seoul, South Korea

☆ Smartphone giants like Samsung are going to talk up 'AI phones' this year — here's what that means
▼ + stars: | 2024-02-25 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Companies like Qualcomm and MediaTek have launched smartphone chipsets that enable the processing power required for AI applications. Large language models are huge AI models trained on vast amounts of data that underpin applications like the widely popular chatbots. The other big part of the AI smartphone puzzle is the term "on-device AI." Previously, many AI applications on devices were actually partly processed in the cloud, then downloaded onto the phone. Smartphone makers say on-device AI improves the security of gear, unlocks new applications and also makes them faster, since the processing is done on the handset.

Persons: SeongJoon Cho, OpenAI's ChatGPT, Bryan Ma, Ma, Ben Wood, Wood Organizations: Samsung Electronics Co, Samsung, Bloomberg, Getty, Mobile World Congress, MWC, IDC, CNBC, Qualcomm, MediaTek, CCS Insight Locations: Seoul, South Korea, Barcelona, Spain

☆ Samsung chief Lee cleared of charges in 2015 merger case
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: +1 min

Samsung Electronics Co. Executive Chairman Lee Jae-yong leaves after attending a final decision at the Seoul Central District Court on Feb. 05, 2024 in Seoul, South Korea. Seoul Central District Court acquits Samsung Electronics Co. Executive Chairman Lee Jae-yong in controversial 2015 merger case. Samsung Electronics Chairman Jay Y. Lee was found not guilty by a Seoul court on Monday in a case related to irregularities in a 2015 merger of Samsung affiliates that prosecutors said was designed to cement his control of the tech group. Lee denied wrongdoing, arguing that he and other executives acted on the belief the merger would benefit shareholders. The sentence prevents a return to jail for Lee who was convicted in 2017 of bribing a friend of former President Park Geun-hye.

Persons: Lee Jae, Jay Y, Lee, Prosecutors, Park, Yoon Suk Organizations: Samsung Electronics Co, Seoul Central, Court, Samsung Electronics, Samsung Locations: Seoul, South Korea

☆ Baidu's Ernie AI chatbot to power Samsung's new Galaxy S24 smartphones
▼ + stars: | 2024-01-26 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Samsung Electronics Co. Galaxy S24 smartphones during a media preview event in Seoul, South Korea, on Monday, Jan. 15, 2024. Samsung, the world's most prolific smartphone maker, is leaning into artificial intelligence as the key to unlocking greater sales this year. Photographer: SeongJoon Cho/Bloomberg via Getty ImagesBaidu AI Cloud will be integrating its Ernie chatbot into Samsung's Galaxy S24 smartphones, allowing users to translate calls in real time, among other features. Ernie is the Chinese tech giant's answer to OpenAI's ChatGPT, a chatbot powered by artificial intelligence technology that's able to generate humanlike responses to users' prompts. Baidu claims it is the "most powerful version of Ernie foundation model to date," with the full capabilities of understanding, generation, reasoning, and memory.

Persons: SeongJoon Cho, Ernie chatbot, Ernie, OpenAI's, Apple Organizations: Samsung Electronics Co, Samsung, Bloomberg, Getty, Baidu, Samsung's, Apple, IDC, Vivo, Huawei Locations: Seoul, South Korea, China

☆ Vietnam set to raise effective tax rate on multinationals as part of global deal
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

HANOI, Nov 27 (Reuters) - Vietnam's parliament is set to approve on Wednesday a top-up tax for multinationals, which will raise the effective rate of the corporate levy to 15% from January in line with a global agreement. But it has eventually added it back to its schedule, with the vote on the tax expected now at the last day of its month-long session. Vietnam's corporate income tax is already set at 20%, but the country has offered for years effective rates as low as 5% and lengthy zero-tax periods to large foreign investors. With the new top-up tax, 122 foreign companies will face a steep increase in their tax costs in Vietnam, according to a document prepared by the Vietnamese government which estimated the additional intake for the state at 14.6 trillion dong ($601.05 million) a year. Reporting by Khanh Vu and Francesco Guarascio; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Khanh Vu, Francesco Guarascio, Stephen Coates Organizations: Samsung Electronics Co, chipmaker Intel Corp, Organisation for Economic Cooperation, Development, Thomson Locations: HANOI, Vietnam, Korean

The world's largest memory chip and smartphone maker estimated its operating profit fell to 2.4 trillion won ($1.79 billion) in July-September, from 10.85 trillion won a year earlier in a short preliminary earnings statement. The profit beat a 2.1 trillion won LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate. Although down sharply from last year, Samsung's third quarter profit is higher than the first quarter's 640 billion won and the second quarter's 670 billion won. Rival Micron Technology (MU.O) also forecast a quarterly loss last month, triggering concerns of a sluggish recovery in the memory chip maker's end markets such as data centres. Samsung's revenue likely fell 13% from the same period a year earlier to 67 trillion won, Samsung said in the statement.

Persons: Yves Herman, LSEG, Samsung's, chipmakers, 1,342.1900, Joyce Lee, Heekyong Yang, Jamie Freed Organizations: Samsung, REUTERS, Rights, Samsung Electronics Co, Micron Technology, Apple, Thomson Locations: Brussels, Diegem, Belgium, Rights SEOUL, KS, Korean

☆ Samsung, SK Hynix get indefinite waivers to ship U.S. chip equipment to their China factories
▼ + stars: | 2023-10-10 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Samsung Electronics Co. 4GB Double-Data-Rate (DDR) 3 memory module, top, and 8GB DDR 3 memory modules are arranged for a photograph in Seoul, South Korea, on Tuesday, July 9, 2019. South Korean chip giants Samsung and SK Hynix will be allowed to ship U.S. semiconductor manufacturing equipment to their China factories indefinitely without separate U.S. approvals, South Korea's Yonhap News Agency reported on Monday. Previously, Samsung Electronics and SK Hynix obtained one-year waivers from the U.S. to continue importing advanced tools for their China plants. "The U.S. government's decision means that the most significant trade issue of our semiconductor companies has been resolved," said Choi. The latest development quells concerns Samsung and SK Hynix have about their chip production in China, which partly relies on U.S. equipment.

Persons: Choi Sang, Seoul's, Choi Organizations: Samsung Electronics Co, Samsung, SK Hynix, Yonhap News Agency, Samsung Electronics Locations: Seoul, South Korea, Korean, China, U.S

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. The price range, which has not been previously reported, would translate into a valuation for Arm of roughly between $50 billion and $54 billion, and an offering of $5 billion to $5.4 billion. It would make Arm the most valuable company to list in New York since electric car maker Rivian Automotive (RIVN.O) debuted in 2021. The valuation Arm is currently seeking represents a climb-down from the $64 billion valuation at which SoftBank acquired the 25% stake in the company it did not already own from its $100 billion Vision Fund last month. Arm has already signed up many of its major clients as investors in its IPO, Reuters reported on Friday.

Persons: Dado Ruvic, SoftBank, Echo Wang, Greg Roumeliotis, Matthew Lewis, Chizu Organizations: REUTERS, Arm Holdings, SoftBank Group Corp, Rivian, Reuters, Apple Inc, Nvidia Corp, Inc, Devices Inc, Intel Corp, Samsung Electronics Co, Cadence Design Systems, Synopsys Inc, Thomson Locations: New York

☆ Exclusive: Arm signs up big tech firms for IPO at $50 billion-$55 billion valuation
▼ + stars: | 2023-09-01 | by ( Echo Wang | Thomson Reuters | Echo Wang Is A Correspondent At Reuters Covering U.S. Equity Capital Markets | ) www.reuters.com time to read: +3 min

The talks are ongoing and some other potential investors are also in discussions to invest in the IPO, the sources added. SoftBank Group Corp (9984.T), which owns Britain-based Arm, is targeting a valuation between $50 billion and $55 billion, Reuters reported earlier on Friday. Arm's clients have agreed to invest in that valuation range, the sources said. Arm and SoftBank have set aside 10% of the shares to be sold in the IPO for its clients, Reuters has previously reported. The Wall Street Journal reported on Arm's valuation target earlier on Friday.

Persons: Dado Ruvic, SoftBank, Echo Wang, Anirban Sen, Rosalba O'Brien Organizations: REUTERS, Arm Holdings, Apple Inc, Nvidia Corp, Inc, Devices Inc, Intel Corp, Samsung Electronics Co, Cadence Design Systems, Synopsys Inc, SoftBank Group Corp, Reuters, Apple, Nvidia, Amazon.com Inc, AMD, Intel, Samsung, Cadence, Street, Thomson Locations: Britain, New York

☆ Exclusive: Arm signs up big tech firms for IPO at $50 bln-$55 bln valuation -sources
▼ + stars: | 2023-09-01 | by ( Echo Wang | Thomson Reuters | Echo Wang Is A Correspondent At Reuters Covering U.S. Equity Capital Markets | ) www.reuters.com time to read: +3 min

☆ Intel adds Synopsys IP to advanced contract manufacturing
▼ + stars: | 2023-08-14 | by ( Max A. Cherney | ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File PhotoAug 14 (Reuters) - Chip design tools maker Synopsys (SNPS.O) has signed a deal to bring its technical building blocks to the advanced contract manufacturing Intel (INTC.O) offers, the companies said on Monday. The two companies said Synopsys would offer a portfolio of designs that will work with Intel's advanced manufacturing capabilities Intel 3, and Intel 18A. Intel and Synopsys said that there was a framework in place for making the intellectual property available on future manufacturing processes. The partnership between Intel and Synopsys important step for Intel Foundry Services (IFS), its contract manufacturing business, to become a viable alternative to Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) or Samsung Electronics Co Ltd (005930.KS). Intel launched IFS in 2021, and it reported revenue of $232 million in the second quarter of this year.

Persons: Dado Ruvic, Synopsys, Steve Leibson, Max A, Marguerita Choy Organizations: REUTERS, Intel, Intel Foundry Services, Taiwan Semiconductor Manufacturing Co, Samsung Electronics Co, Tirias Research, Thomson Locations: San Francisco

☆ U.S. will be short 67,000 chip workers by 2030, industry group says
▼ + stars: | 2023-07-25 | by ( Max A. Cherney | ) www.reuters.com time to read: +2 min

July 25 (Reuters) - The U.S. semiconductor industry faces a shortfall of roughly 67,000 workers by 2030, according to an industry association study published on Tuesday. The chip industry's workforce is projected to grow to 460,000 by the end of the decade, up from roughly 345,000 this year. The law also created a 25% investment tax credit for building new chip factories, or fabs, that is worth $24 billion. Roughly half of the future chip industry jobs will be engineers. The shortage of skilled chip workers is part of a larger shortfall of science, technology, engineering and math graduates in the U.S., according to the report.

Persons: John Neuffer, Max A, Christian Schmollinger Organizations: Semiconductor Industry Association, SIA, Oxford Economics, Commerce Department, Intel Corp, Taiwan Semiconductor Manufacturing Co, Samsung Electronics Co, Thomson Locations: U.S, KS, San Francisco

The world's largest memory chip and smartphone maker estimated its operating profit fell to 600 billion won ($459 million) in April-June, from 14.1 trillion won a year earlier in a short preliminary earnings statement. It would be Samsung's lowest profit for any quarter since a 590 billion won profit in the first quarter of 2009, according to company data. Shares in Samsung fell 1.4% in early morning trade, underperforming a 0.6% drop in the wider market (.KS11). In the January-March quarter, the company reported a whopping 4.58 trillion won loss in its chip business as memory chip prices fell further and its inventory values were slashed. Revenue in April to June likely fell 22% from the same period a year earlier to 60 trillion won, Samsung said in the statement.

Persons: Chris Helgren, Refinitiv, Greg Roh, 1,307.6700, Joyce Lee, Heekyong Yang, Shri Navaratnam, Sonali Paul Organizations: Samsung Electronics, REUTERS, Samsung Electronics Co, Samsung, Hyundai Motor Securities, Revenue, Thomson Locations: Manhattan, New York City, U.S, SEOUL, KS

Apple and Broadcom have argued that they should have been allowed to raise the patent challenges during the trial. A jury found that the companies infringed Caltech's patents, ordering Apple to pay $837.8 million and Broadcom to pay $270.2 million. The Federal Circuit took issue with the amount of the award, and sent the case back for a new trial on damages. Apple and Broadcom told the Supreme Court that the Federal Circuit misread the law, which they said only blocks arguments that could have been raised during the review itself. President Joe Biden's administration urged the justices in May to reject the case and argued that the Federal Circuit had interpreted the law correctly.

Persons: Joe Biden's, Blake Brittain, Andrew Chung Organizations: U.S, Supreme, Apple Inc, Broadcom Inc, Caltech, Apple, Broadcom, California Institute of, Appeals, Federal Circuit, U.S . Patent, Federal, Microsoft Corp, Samsung Electronics Co, Dell Technologies Inc, HP Inc, Thomson Locations: Pasadena , California, Cupertino, San Jose, Los Angeles, Washington, New York

☆ South Korea vows support for its chip sector amid China-US tension
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

SEOUL, June 8 (Reuters) - South Korea pledged support for its chip sector on Thursday, with President Yoon Suk Yeol describing competition in the industry as an "all-out war" amid heightened Sino-U.S. tension. The government plans to help expand research and development, bolster smaller players, strengthen legal protection for chip technology and set up a chip testing facility, the industry ministry said in a statement. South Korea has sought to avoid becoming embroiled in a tit-for-tat row between China and the United States over semiconductors. On one hand, chipmakers Samsung Electronics Co Ltd (005930.KS) and SK Hynix Inc (000660.KS) depend on U.S. technology and equipment. At the same time, about 40% of South Korea's chip exports go to China, trade ministry data showed.

Persons: Yoon Suk, Yoon, Fitch, Joyce Lee, Edwina Gibbs, Christopher Cushing Organizations: Companies, Samsung Electronics Co, SK Hynix Inc, Washington, Samsung, SK Hynix, SK Hynix's, SK, Thomson Locations: SEOUL, South Korea, United States, Korea, China, U.S

SANTA CLARA, California May 22 (Reuters) - U.S. semiconductor toolmaker Applied Materials Inc (AMAT.O) on Monday said it plans to spend up to $4 billion on a research center in the heart of Silicon Valley to speed up advances in semiconductor manufacturing. Applied Materials said the new facility, called the Equipment and Process Innovation and Commercialization (EPIC) Center, will be the size of more than three American football fields. The scale of how fast we invest is going to be tied to the government incentives," Gary Dickerson, CEO of Applied Materials, told Reuters. Taking ideas from research universities and turning them into tools used in factories can take many years, said Applied executives. U.S. Vice President Kamala Harris is expected to attend an Applied Materials' event in Silicon Valley announcing the center, along with top executives from major chip companies.

☆ Japan's prime minister to meet with top chip firms
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Meeting could happen as soon as ThursdayWould include TSMC, Samsung, Intel, MicronTOKYO, May 17 (Reuters) - Japan's Prime Minister Fumio Kishida plans to meet with top executives from global semiconductor companies as early as on Thursday to strengthen multilateral cooperation, Chief Cabinet Secretary Hirokazu Matsuno said. Japan is striving to reinvigorate its chip sector, whose global market share has fallen to about 10% from around 50% in the late 1980s. TSMC, the world's largest contract chip manufacturer, is building a major factory in western Japan. Samsung is considering setting up a chip packaging test line in the country, five people familiar with the matter said in March. Also, Intel is looking into opening up a research and development facility in Japan, the Yomiuri Shimbun daily reported on Wednesday.

☆ Japan arranging subsidies for Samsung chip facility -source
▼ + stars: | 2023-05-17 | by ( Maki Shiraki | ) www.reuters.com time to read: +2 min

TOKYO, May 17 (Reuters) - Japan is arranging subsidies that could be worth around 15 billion yen ($110 million) to South Korea's Samsung Electronics Co (005930.KS) for a chip facility it is considering setting up near Tokyo, a source with direct knowledge of the matter said. Samsung, the world's largest maker of memory chips, would construct the facility including its first chip packaging test line in Japan near its existing research and development centre in Yokohama, Reuters reported in late March. The facility could cost around 40 billion yen to set up, of which about a third would be subsidised by the Japanese government, said the source, who declined to be named because the information is not public. Japan's Prime Minister Fumio Kishida on Thursday plans to meet with executives from leading chip firms including Samsung to strengthen multilateral cooperation. Japan said last month it would give 260 billion yen in subsidies to domestic chipmaker Rapidus, which is building a factory on the northern island of Hokkaido, in addition to 70 billion yen of government funding secured earlier.

☆ Japan PM Kishida to meet executives from top chip firms -sources
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

TOKYO, May 17 (Reuters) - Japan's Prime Minister Fumio Kishida plans to meet on Thursday with top executives from global semiconductor companies including TSMC to seek active investment in Japan, said two people involved in planning the meeting. Kishida will also ask those companies to develop closer cooperation with Japanese firms, the people said following a Yomiuri newspaper report on the meeting. Japan is striving to breathe vigour into its chip sector, whose global market share has tumbled to about 10% from around 50% in the late 1980s. TSMC, the world's largest contract chip manufacturer, is building a major factory in western Japan. Samsung is considering setting up a chip packaging test line in the country, five people familiar with the matter said in March.

CompaniesCompanies Law Firms Google Inc FollowAlphabet Inc Follow(Reuters) - Alphabet's Google LLC won a jury trial on Tuesday in a long-running patent lawsuit in Delaware federal court over features in Google's smartphones and apps. The jury decided that Luxembourg-based patent owner Arendi SARL's patent was invalid and that Google did not infringe it, according to the verdict made public on Wednesday. Google spokesperson José Castañeda said the company was pleased with the decision and appreciated the jury's "careful attention to the extensive evidence presented in this case." Norwegian inventor Atle Hedloy's Arendi sued Google in 2013 over the patent, which relates to retrieving information like names and addresses from a database and entering it into word processors and spreadsheets. It asked the court for $45.5 million in damages, according to a spokesperson for Google's law firm Paul Hastings.

☆ Memory-Chip Makers Say Recovery Is in Sight After Long Slump
▼ + stars: | 2023-04-27 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

Samsung Electronics says demand for memory chips is expected to gradually recover in the second half of the year. Photo: SeongJoon Cho/Bloomberg NewsThe world’s top memory-chip makers, struggling with the deepest industry downturn in more than a decade, say the worst may soon be over as customers come back and cuts in production and investment help counter a supply glut. After reporting a $3.4 billion operating loss in the first quarter in its semiconductor division, Samsung Electronics Co. said Thursday that demand for memory chips was expected to gradually recover in the second half of the year after a prolonged slide.

A global downturn in semiconductor demand amid an economic slowdown and weak customer spending sent chip prices plummeting in the first quarter. For the current quarter, Samsung said it expected limited demand recovery for memory chips as major data centre firms invested more conservatively in servers. Revenue fell 18% to 63.7 trillion won. The South Korean tech giant's chip division - normally its most reliable cash cow - reported a 4.58 trillion won loss compared to a 8.45 trillion won profit a year earlier. As a result, smartphone, personal computer and server companies have run down inventories, causing chip prices to plunge by about 70% over the previous nine months.

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