Samsung cuts memory production

Author: EIS Release Date: Apr 13, 2023

Samsung has finally bowed to market pressure and says it has cut memory output by a ‘meaningful’ amount.

 

Rivals Hynix and Micron have both slashed production.

 

Samsung did not say whether it was reducing memory capex.

 

Hynix has cut its capex by 50% and Micron by 30%.

 

Samsung’s move follows a 96% fall in Q1 profits with an estimated $1.6 billion loss for its chip unit.