Samsung Electronics temporarily halt new purchase orders: Report

According to the latest report, sources revealed that Samsung Electronics has temporarily suspended new purchase orders and asked multiple suppliers to delay or reduce parts due to bloated inventories and concerns about global inflation.

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Moreover, the notice from Samsung Electronics covers components for several key product lines such as TVs, home appliances, and smartphones, and the delayed orders involve chips, electronic components, and more, the people familiar with the matter said.

Furthermore,  the financial report shows that Samsung Electronics’ revenue in the first quarter of fiscal 2022 was 77.7815 trillion won, a year-on-year increase of 19%; operating profit was 14.1214 trillion won, a year-on-year increase of 51%, hitting the highest level since 2018.

(via)