Samsung issues rare apology amid job cuts, financial woes and faltering AI bet, says, ‘we have caused concerns about ….’

Samsung Electronics Co. has issued a rare apology to investors after disappointing financial results, acknowledging that the memory chip giant is facing a potential crisis. The company, once a dominant force in the industry, admitted to struggles that have caused it to lose the plot.

Jun Young-hyun, the newly appointed head of Samsung’s semiconductor division, pledged to overhaul the organisation. In a candid statement, he took responsibility for the company’s struggles, highlighted by worse-than-expected revenue and profit numbers.