Samsung faces lowest profit in 14 years, will cut chip production
Samsung Electronics would make a "meaningful" cut to chip production, as it witnesses a sharp global downturn in semiconductor demand that has sent prices plummeting. Operating profit plunged over 95% to 600 billion won ($455 million) for the quarter ended March, missing the analysts' estimate of 1.4 trillion won. The company did not disclose the size of the planned production cut....