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SEOUL: Samsung Electronics<\/a> Co Ltd said on Friday it would make a \"meaningful\" cut to chip production after flagging a worse-than-expected 96% plunge in quarterly operating profit, as a sharp downturn in the global semiconductor market deepens.
The rare announcement of an output cut by the world's biggest memory chipmaker, which had resisted the broader industry trend of a steep investment reduction, underscored the depth of the current market downturn but also lifted hopes of a faster market recovery.
Shares in Samsung<\/a> jumped 4.5% in early trading in the biggest one-day rise since September, while rival SK Hynix Inc's shares surged 5%, as investors bet the move by the industry leader would support chip prices that had fallen by about 70% over the last nine months.
Samsung said memory demand had dropped sharply because of a weak global economy and customers slowing purchases as they focused on using up inventories.
\"We are lowering the production of memory chips by a meaningful level, especially that of products with supply secured,\" it added, in a reference to those with sufficient inventories.
The production cut signal was unusually strong for the company, which previously said it would make small adjustments like pauses for refurbishing production lines but not a full-blown cut.
It did not disclose the size of the planned cut.
\"The fact that the industry's market share No. 1 firm is joining production cuts lifted shares... SK Hynix and Micron have declared production cuts, but only Samsung had not, so the market was waiting for it,\" said John Park, analyst at Daishin Securities.
\"Today's production cut signal casts a positive outlook for a memory chip rebound in the second half of the year.\"
RECORD CHIP LOSS
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Samsung estimated its operating profit fell to 600 billion won ($455.5 million) in January-March, from 14.12 trillion won a year earlier, in a short preliminary earnings statement. It was the lowest profit for any quarter in 14 years.
The first-quarter profit fell short of a 873 billion won Refinitiv SmartEstimate, weighted toward analysts who are more consistently accurate. Multiple estimates were revised down earlier this week.
Its chip division is likely to report a record loss of 2.1 trillion won ($1.6 billion), according to an average of analyst forecasts, and post another 2 trillion won loss in the current quarter, a major divergence for what had been Samsung's most important cash cow, generating about half of its profits in better years.
With consumer demand for tech devices<\/a> sluggish due to rising inflation, semiconductor buyers including data centre operators and smartphone and personal computer makers are refraining from new chip purchases.
Analysts said Samsung's short-term production cut might improve its performance slightly in the current quarter and could also cement or hasten the rebound of memory chip prices.
\"The company has signalled it will cut production this time, and if it is really meaningful, the second quarter is expected to be better than the first quarter,\" said Greg Roh, head of research at Hyundai Motor Securities.
\"Fixed prices of DRAM memory chips are also expected to rebound from the third quarter... Samsung talking about production cuts is evidence of how bad the current slump really is,\" he added.
The company is due to release detailed earnings, including divisional breakdowns, later this month.
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首尔:三星电子有限公司上周五表示,将做一个“有意义”的芯片生产后公布了弱于预期的季度营业利润骤降96%,作为一个在全球半导体市场急剧下滑加深。
罕见的宣布一个输出减少全球最大的记忆体晶片制造商,曾拒绝大幅削减投资的更广泛的行业趋势,凸显了当前市场的深度衰退也将更快的市场复苏的希望。
的股票三星在早盘交易中上涨4.5%在去年9月以来的最大单日涨幅,而竞争对手SK海力士(aapl . o:行情)股价大涨5%,因投资者押注的移动行业的领导者将支持芯片价格下降了约70%在过去的9个月。
三星说内存需求急剧下降,因为疲软的全球经济放缓和客户购买,因为他们专注于使用库存。
“我们正在降低内存芯片的生产有意义的层面上,尤其是产品的供应安全,”它补充道,指那些有足够库存。
减产信号异常强大的公司,此前表示,将使小的调整像停顿了翻新生产线而不是全面的。
它没有透露计划的规模。
“事实上,该行业的市场份额1号公司加入减产解除股票……SK海力士和微米宣布减产,但只有三星,所以市场在等待它,"大信证券分析师John公园说。
“今天的减产信号给积极的前景记忆体晶片在今年下半年反弹。”
记录芯片损失
三星预计营业利润下降在1 6000亿韩元(合4.555亿美元),较上年同期的14.12万亿韩圆,在短的初步业绩声明。这是14年来任何季度利润最低。
的第一季度利润低于8730亿韩元Refinitiv SmartEstimate,偏重于分析人士更准确。多个估计本周早些时候被向下修正。
芯片部门可能会报告一个创纪录的2.1万亿韩元(合16亿美元)的损失,根据平均分析师预估,和后另一个在当前季度亏损2万亿韩元,曾经是三星的一个主要差异最重要的摇钱树,产生更好的年利润的一半。
消费者对科技的需求设备由于通胀上升缓慢,半导体买家包括数据中心运营商和智能手机和个人电脑制造商避免购买新的芯片。
分析师表示,三星的短期减产可能在当前季度略有改善其性能,也可能水泥或加速记忆体晶片价格的反弹。
“该公司已表示,将削减产量,如果它确实是有意义的,预计第二季度比第一季度,”Greg卢武铉说,现代汽车的研究主管证券。
“固定DRAM内存芯片的价格也将从第三季度反弹…三星谈论减产是当前的衰退是多么糟糕的证据,”他补充道。
公司将公布详细的收益,包括分区故障,本月晚些时候。
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