Samsung Apologizes For Making Just $6.8 Billion Last Quarter

Samsung has issued a rare apology after saying it expected to post just $6.78 billion in operating profit for the most recent quarter, about $900 million short of analyst expectations. From a report: "We have caused concerns about our fundamental technological competitiveness and the future of the company due to our performance falling short of the market's expectations," reads the statement attributed to Samsung Vice Chairman Jun Young-hyun. "Many people are talking about Samsung's crisis. We, who are leading the business, are responsible for all of this." Bloomberg adds: In another filing, Korea's largest company confessed to delays in delivering a key type of chip used with Nvidia processors for training AI -- allowing SK Hynix to dominate the so-called high-bandwidth memory arena. Apart from lagging SK Hynix in HBM, it's also shown little progress against Taiwan Semiconductor Manufacturing Co. in the outsourced production of custom-made chips. Samsung warned about "inventory adjustments" by unspecified customers, as well as increasing competition from a legacy or less-advanced Chinese memory chipmaker.

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