Seoul (EFE) at about 600 billion won (about $455 million).
In a statement issued to the operator of the Seoul Stock Exchange, the company said it will adjust production to reduce excess inventory in light of the contraction in the semiconductor market.
However, Samsung, which had initially assured that it would not adjust its production due to the fall in prices in the sector, did not provide further details on the levels at which it will cut the performance of its plants.
The forecast of results offered today by the company based in Suwon (south of Seoul) is even below most analyst estimates.
Samsung, in turn, expects its turnover for January-March to be reduced by 19% to 63 trillion won (about 47,743 million dollars).
The great contraction that the world market for chips, Samsung’s main product, has suffered since the summer is behind this poor performance.
Many analysts have anticipated that, after spectacular growth during the first years of the pandemic, the correction in demand will cause the global semiconductor market to be valued this year at the level it was in 2021.
As usual, Samsung Electronics did not publish its net profit estimate today nor did it break down its earnings forecast by business branch.
The company, the world’s largest producer of memory chips, will publish its full financial statement for the first quarter of 2023 later this month.
