Samsung Expects Chip Recovery in 2024, Plans to Extend Output Cuts as Needed

Samsung Electronics has announced its anticipation of a chip recovery in 2024 and plans to extend output cuts as necessary.

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The company has been reducing chip production to navigate through a challenging industry downturn. It foresees a shift towards high-end chips for generative artificial intelligence in 2024, leading to increased demand.

Samsung aims to increase its output capacity for high bandwidth memory (HBM) chips by 2.5 times or more in 2024 compared to this year. The company's operating profit for July-September was 78% lower than the previous year, but it expects a rebound in the memory chip business.

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• Samsung Electronics expects a chip recovery in 2024 and will continue to cut production accordingly.

• The company foresees increased demand for high-end chips for generative artificial intelligence.

• Samsung plans to increase its output capacity for high bandwidth memory (HBM) chips in 2024.

Source: REUTERS