October 12, 2023 /SemiMedia/ -- According to reports, Samsung Electronics has experienced its fourth consecutive quarter of sales declines, reflecting the severity of the decline in the entire semiconductor industry.

Samsung Electronics said sales fell about 13% to 67 trillion won ($50 billion) in the third quarter ended in September.

Ahead of the demand, Samsung and SK Hynix said they would respond to the economic uncertainty by cutting production of NAND flash memory chips used in PCs and mobile phones. This has helped support DRAM and NAND prices, suggesting the market may finally have bottomed out.