Samsung Admits Crisis, Apologizes

This is a news story, published by Ars Technica, that relates primarily to Samsung news.

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Samsung

Ars Technica

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Samsung says it’s in “crisis,” apologizes for missing profit target

Summary

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78% Informative

South Korean chip giant reported a preliminary operating profit of 9.1 trillion ( $6.8 billion ) for the third quarter .

Samsung 's share price has fallen almost 30 percent over the past six months amid growing concern over its competitiveness in cutting-edge chips used in artificial intelligence systems.

The head of Samsung ’s chip division wrote in a letter to customers, investors, and employees on Tuesday .

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