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Samsung to cut chip production

Demand for memory chips ramped up during Covid-induced lockdowns as consumers bought new electronics to use at home. Samsung Electronics will cut memory chip production after announcing a 96% drop in its quarterly operating profit. The world’s largest chip producer said sales had dropped sharply due to a slow global economy and less demand after the pandemic. The industry is now recovering from a chip shortage over the past couple of years, but many semiconductor manufacturers are struggling to find a balance between their inventories and current demand. What is your take on the issue ?

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