Samsung faces chip shortages next quarter and cancels Galaxy Note release

Samsung Electronics held its Annual Shareholders Meeting this week, at which it was forced to admit that component shortages will continue to affect the company’s business in the second quarter. Along the way, it was announced to abandon the release of the new Galaxy Note model this year. The company wants to achieve greater consistency from the product line.

Bloomberg noted that the relevant statements were made by one of the two CEOs of the company Dong-jin Koh (Dong-jin Koh). According to him, now in the IT industry, there is a serious imbalance between supply and demand in the market for semiconductor components. Despite Samsung’s best efforts, the problem is far from resolved.

Smartphones of the Galaxy Note family are located in the upper price segment. For the company, the second flagship release in a year would be a serious financial burden, so this year, Samsung will refuse to release a new model of this series. New release dates for the next generation Galaxy Note are still under discussion, but Samsung expects to offer a new product no earlier than next year.