samsung to further cut production of memory chips to stem the losses

Samsung Device Solutions (DS), the division in charge of the lucrative chip production business, posted a loss in the first quarter of this year, its first quarter in the red since 2009. Unfortunately, the rest of this year isn’t looking good either, so Samsung is slashing production targets.

The operating loss in Q1 was KRW 4.6 trillion, which was lowered to KRW 4.36 trillion in Q2. The loss for Q3 will be around KRW 4.0 trillion ($2.95 billion), predicts analyst Kim Dong-won from KB Securities.

Other analysts are forecasting smaller loses for Q3 – KRW 3.7 trillion, according to Kim…