SEOUL — Samsung Electronics issued a rare apology and acknowledged on Tuesday it was facing a 'crisis' over its technological competitiveness, reflected in a disappointing profit guidance, despite a global AI boom.
SEOUL — Samsung Electronics issued a rare apology and acknowledged on Tuesday it was facing a 'crisis' over its technological competitiveness, reflected in a disappointing profit guidance, despite a global AI boom. Samsung said it expected third-quarter profits to rise to 9.1 trillion won , up 274.5 percent from a year earlier, falling short of market expectations as the company struggles to leverage robust demand for the chips used in artificial intelligence servers.
'Bloomberg reported that the layoffs could affect about 10 percent of the workforce in those markets, while other reports claimed the planned move could affect up to 30 percent of overseas employees at some operations.Samsung has been lagging behind South Korea's SK hynix when it comes to high bandwidth memory chips used in AI chipsets, which could be one of the biggest causes of the profit estimate released on Tuesday, said Kim Dae-jong at Sejong University in Seoul.
Issues Rare Apology For Poor Results In Tech 'Crisis'
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