Samsung plans to cut memory chip production to a “meaningful level” after estimating that its Q1 operating profit fell 95%+ YoY to ~$450M, its worst since 2009 (Sohee Kim/Bloomberg)

Sohee Kim / Bloomberg:
Samsung plans to cut memory chip production to a “meaningful level” after estimating that its Q1 operating profit fell 95%+ YoY to ~$450M, its worst since 2009  —  Samsung Electronics Co. said it is cutting memory chip production after reporting its slimmest profit since …