Samsung Electronics issued a public apology and acknowledged the company is in a “crisis” following the release of its profit guidance, Song Jung-a and Christian Davies of The Financial Times reports. Additionally, the company’s share price has fallen nearly 30% over the past six months over concerns the company’s competitiveness in chips used in AI systems. “We have caused concerns about our technical competitiveness, with some talking about the crisis facing Samsung. As leaders of the business, we take full responsibility for this,” Young Hyun Jun, the head of Samsung’s chip division, wrote in a letter to customers, investors, and employees.
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