, Columnist
Samsung Refuses to Play Chicken With Capex
The memory-chip leader could have put pressure on competitors to keep up. Instead, it’s showing discipline.
Avoiding the memory hole.
Photographer: SeongJoon Cho/Bloomberg
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We knew that Samsung Electronics Co. was going to reduce capex this year. It told us so.
Yet the scale of the cut is a surprise. After a record 43.4 trillion won ($38 billion) outlay last year, it would have been folly for the South Korean electronics giant to keep up the pace of spending.