Reportedly, in chip terms, the two most popular manufacturers Samsung Electronics and SK Hynix have been affected due to decline. SK Hynix In the third quarter, both revenue and net profit fell year-on-year, with net profit falling by more than 60%.
Samsung has recently shared its earning results which show the overall revenue increased by 4% year-on-year to 76.78 trillion won, the revenue of the storage business fell by 27% year-on-year, and the device solutions division, where the memory chip business is located, fell by 14% year-on-year to 5.12 trillion won. The net profit was less than the 10.07 trillion won in the same period last year and 9.98 trillion in the previous quarter.
Now, according to Samsung executive, the company does not plan to cut investment and gradually reduce production like SK Hynix.
In the third-quarter earnings analyst conference call, Jinman Han, vice president of Samsung Electronics responsible for the memory chip business, said that due to the large inventory adjustment of enterprise customers, demand is expected to weaken next year. The company will see growth in the coming months.