Samsung forecasts a shocking 96 percent drop in profits for Q1 2023: Memory inventories are piling up, so Samsung is cutting production.

TL;DR

Samsung's last quarter, which was already at an eight-year low. DigiTimes breakdown of Samsung's business for 2022 has the memory division at 55 percent of profits, mobile at 22 percent, and displays at 11 percent, so Samsung's profits mostly go up and down with the memory business. Other memory vendors like Micron and Hynix are suffering, too, and they have already cut production

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