Samsung, one of the biggest electronics brands in the world, is now struggling to handle its chip production arm as its shares plunge by 96%. The Korean giant is sitting on huge inventories after a build-up to meet the expected pent-up demand post-COVID did not materialise.

Samsung to cut chip production after profits hit 14-year low

The profit warning came two days after the South Korean electronics giant slashed its operating profit for the third quarter by $2.3 billion

Samsung sees further $3 billion profit hit from Note 7 crisis

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Samsung to cut chip production after profits hit 14-year low

Samsung sees further $3 billion profit hit from Note 7 crisis