Samsung posts worst quarterly earnings in 14 years Asia News Network (ANN) is the leading regional alliance of news titles striving to bring the region closer, through an active sharing of editorial content on happenings in the region.
Samsung Electronics semiconductor business posted an operating loss of 4.58 trillion won ($3.4 billion) in the first quarter due to the prolonged downturn of the global chip industry, the chip giant said, Thursday. Despite suffering slumping demand and price declines, the company expects its business will rebound in the second half of the year.
Samsung Electronics and SK hynix are expected to benefit from emerging artificial intelligence (AI) services such as ChatGPT due to surging demand at processing centers for high-performance memory chips that can handle more data as AI technology becomes increasingly widespread, according to industry officials and analysts, Sunday. ChatGPT is a chatbot or conversational AI service launched by U.S.-based AI company OpenAI last November. Unlike previous chat-based AI services, ChatGPT has seen an explosive increase in demand across the world because it feels like talking to a real person with deep knowledge on a diverse range of topics.
Samsung Electronics reaffirmed Tuesday that there will be no artificial production cut in its memory semiconductor production, even though the chip giant suffered from plunging profits in the fourth quarter of 2022. Instead, the company aims to proactively respond to chip demand, which it projects will recover in the future. In its earnings announcement, Samsung said fourth quarter sales dropped 7.97 percent year-on-year to 70.46 trillion won ($57.22 billion), while operating profit plunged 68.5 percent to 4.31 trillion won.