Samsung's Memory Chip Production Slashed Amidst Profit Plunge.
Samsung Electronics expects a 96% YoY drop in operating profits to $455m in Q1 2023, marking a 14-year low, with analysts attributing the semiconductor loss, which could be up to $3bn, as the main reason behind the slump. The US' attempt to crack down on China by weaponising the chip supply chain is to blame for the imbalance between supply and demand in the global semiconductor sector. The US has ratcheted up pressure on its allies to ban their companies from selling chips at will, making chipmakers the cannon fodder in the US "chip war".