Caixin
Jan 09, 2023 08:09 PM
BUSINESS

Samsung Maintains Pace of Chip Investment Despite Plunging Profit

Semiconductors account for only about 30% of Samsung’s total revenue. Still, its other businesses like smartphones and appliances were unable to offset the plunge in chip prices in recent months. Photo: VCG
Semiconductors account for only about 30% of Samsung’s total revenue. Still, its other businesses like smartphones and appliances were unable to offset the plunge in chip prices in recent months. Photo: VCG

(Nikkei Asia) — Samsung Electronics Co. Ltd.’s semiconductor investment shows no signs of letting up even as its profit takes a hit and rivals like Taiwan Semiconductor Manufacturing Co. Ltd. pull back in response to an industry downturn.

South Korea’s most valuable company said Friday that operating profit likely plunged 69% on the year in the October-December quarter, underperforming market expectations by 38% and suffering its worst drop since the same quarter in 2008.

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