Samsung's profit rises beating estimates after broader biz offsets AI gloom

Quick Summary:

Samsung has lost about a quarter of its value this year, as the once-dominant memory chipmaker struggled to get its latest chips certified by Nvidia Corp.

It’s begun laying off workers in Southeast Asia, Australia and New Zealand as part of a plan to reduce global headcount by thousands of jobs, Bloomberg News reported.

Samsung has said mobile customers are still working through stockpiled chip inventory.

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Article Details

Category: BusinessFinance

Markets: IndiaAustraliaSouth KoreaNew ZealandTaiwan

Topics: Nvidia Samsung Artificial intelligence AI Samsung electronics result Samsung electronics

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 07:12:52 (17 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 447 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23344017

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