Technology giant Samsung apologized for the company's difficult situation after it said it expects operating profits of $6.78 billion in the fourth quarter, $900 million less than analysts' expectations. The company's vice president, Jeon Young-hyun, admitted that the results raise concerns about the company's technological competitiveness and future.
What is known
Samsung introduced a six-day week for executives earlier this year as its financial performance deteriorated due to increased competition and falling demand for chips. Hype around the Galaxy AI as well as Nvidia's future sales of high-speed memory chips should improve the situation, but delays in delivering high-end HBM3E chips to an unnamed major customer have allowed competitors like SK Hynix to carve out a niche. themselves to exacerbate the crisis situation.
The company is also under pressure from traditional Chinese smartphone chip manufacturers. Samsung promised to restore technological competitiveness and improve the company's culture to overcome the current crisis and turn it into opportunities for growth.
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