Samsung is reducing its production of memory chips due to the global economic downturn, an oversupply, and decreased demand. The South Korean tech giant is adjusting its operational activities to ensure sufficient volume in the future, while still investing in infrastructure and research to maintain its market leadership. Samsung’s preliminary financial figures for the first quarter of 2023 indicate a 96% decrease in profit compared to the same period last year, with an estimated revenue of 1.4 trillion won (418 million euros). Despite the challenging market conditions, Samsung remains committed to developing cutting-edge storage solutions, with the prediction of a petabyte SSD in the next decade.
