As widely expected, Korea?s big three semiconductor companies have turned in large declines in profits because of the slump in Dram prices.
Samsung, LG Goldstar and Hyundai all showed profit drops because of the decline in memory prices over the last 18 months. Expectation of these poor results caused the South Korean government to restrict exports on 16Mbytes pieces last month. Dram accounts for around 30 per cent of South Korea?s exports abroad.
According to reports from Seoul, Samsung?s profits fell by nearly 93 per cent to $190 million, a shortfall closely mirrored by LG, down 86 per cent and Hyundai, down by 92 per cent.
Memory prices slumped for a number of reasons including over-production and expectation that Windows 95 would cause big demand for more Dram. The chip and PC business at Samsung accounts for about 60 per cent of the electronics division?s turnover.
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