Samsung flags H2 recovery after record chip loss in Q1

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Reuters UK

By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics Co Ltd flagged a gradual recovery for chips in the second half of the year after its semiconductor business reported a record loss on Thursday, driven by a chip glut from weak demand for tech devices. A global downturn in semiconductor purchases amid an economic slowdown and corporate belt-tightening sent chip prices plummeting in the first quarter, triggering production cuts across the sector. By the second half of the year, customers will have run down inventory and gradually start buying chips again, Samsung said. “We expec…

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