Semiconductor companies slash output on supply glut
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(ZEROHEDGE) – Samsung Electronics, the world's largest memory chipmaker, provided more insight into the worsening slowdown for semiconductors and the bust in global PC markets.
Korea Economic Daily reported Samsung "lowered its semiconductor sales forecast for the second half of the year by more than 30%." The newspaper attributed slumping semiconductors demand "as the economy froze due to central bank rate hikes caused by global inflation."
The paper warned: "As the semiconductor industry has entered a full-fledged ice age, there are many forecasts in the industry that the recession will continue until the first half of next year when semiconductor inventories are eliminated."
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