The glut came after companies began to stockpile chips amid the shortage to build up inventories.
From profit boost to income plungeThe pandemic-induced shortage of semiconductors helped boost chip makers' profits as prices jumped.
Meanwhile, SK Hynix swung to a loss in the second quarter versus a profit in the same period last year.
Taiwan Semiconductor Manufacturing Company, the world's largest chipmaker, said last week that net income for the second quarter fell 23.3% from a year ago.
Looking ahead, the PC market appears weak, which is likely to impact Samsung, SK Hynix and Micron.
Persons:
Wong Yu Liang, Peter Hanbury, Hanbury, Sze Ho Ng
Organizations:
Bain & Company, CNBC, Samsung, SK Hynix, Micron, Taiwan Semiconductor Manufacturing Company, China Renaissance Securities
Locations:
oversupply