Shares at the world’s biggest memory-chip maker have fallen more than 30% July peak but there is hope of regaining lost ground
Samsung Electronics reported an operating profit of Won3.9 trillion from its chip division in the third quarter, falling far short of analyst estimates and behind its South Korean rival SK Hynix, as the world’s biggest memory-chip maker failed to take full advantage of the artificial intelligence boom.
Samsung has not managed to pass industry leader Nvidia’s qualification tests for advanced HBM chips, but the company said on Thursday it had made “meaningful progress” in winning approval from a “major customer” and expected HBM chip sales to increase in the fourth quarter. Analysts have expressed scepticism about Samsung’s business prospects in HBM and expect a major shake-up among its chip executives next month.
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