The global crisis does not stop and puts at serious risk the financial stability of families, but also of companies, including the tech giants.
It is something very impressive what is happening all over the world. A crisis of this kind, strong, tenacious, lasting, has not been seen for over a quarter of a century. It all started three years ago with the Covid pandemic that brought the whole world to a standstill. The restrictions have forced numerous companies to close and, therefore, lay off their employees.
From here arose an unprecedented social crisis, smoothed out only after almost two years. But, while you thought that everything could go right, for the best, here comes the war between Ukraine and Russia to mess up all the plans again. The prices of energy matter have skyrocketed and have resulted in the increase of everything.
In fact, there have been increases in gas and electricity bills and, obviously, fuel prices have increased. Finally, even basic necessities, for the prices charged, look like 24-karat gold. Let’s not talk about inflation. This too is skyrocketing and is causing the purchasing power of all citizens to drop even more.
With the lack of the opportunity to purchase, and thus with less demand, some companies also had to resize their production plans. And we’re not just talking about small companies, but also tech giants, world leaders in the production of electronic devices that now find themselves having to deal with the crisis.
Samsung from tech giant to bankruptcy: what is happening and what will happen to its users?
We never expected such a situation to affect a giant like the South Korean multinational Samsung. And yet, the global crisis has taken it too into his clutches. In practice it is a big defeat. Just think of the drop in profits in the first quarter of this year. In fact, this stands at 96%.
And when it comes to Samsung, that percentage translates into a huge amount of money lost. It would be difficult to even try to count them. All of this, of course, has only one cause. That is, the drastic drop in demand that occurred as a direct consequence of the global economic and social crisis.
And what Samsung has predicted is cutting chip production. Or rather, the production of these has been practically stopped. In short, they are no longer produced. What the global consequences will be for its users we will only find out in the coming months. In the meantime we can only acknowledge their tremendous desperation.