Samsung sees chip recovery in 2024, to extend output cuts as needed
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Reuters UK
Reuters UK
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics on Tuesday said it will continue to cut production to ease a chip supply glut, and gear up for 2024 when it expects industry-wide investment and production to focus on high-end chips for generative artificial intelligence. Samsung has slashed chip output this year to weather an unprecedented industry downturn, and flagged further production adjustment, especially for NAND flash memory chips, as the market starts to recover. “We’ve received purchase inquiries from (server) customers seeking to secure components … based upon w…