Samsung Electronics posts earnings shock in Q4 2022 due to sluggish performance...
Samsung Electronics posts earnings shock in Q4 2022 due to sluggish performance in semiconductor sector 삼성전자 '어닝쇼크' 반도체 4분기 영업익 2천억원대 그쳐 Samsung Electronics' sales and operating profits in the fourth quarter of 2022 were both down amid plunging global chip demand. However, in terms of its performance for the year as a whole, the South Korean tech giant posted record-high sales. Lee Rae-hyun has more. Samsung Electronics posted an "earnings shock" for the last three months of 2022. Quarterly data released by Samsung on Tuesday shows that the company's operating profit in Q4 dropped 68 percent on-year. The figure reported was around 4-point-3 trillion won which is about 3-point-5 billion U.S. dollars. Sales for the same period, meanwhile, came to around 70-point-4 trillion won or 57-point-2 billion dollars. Experts say the latest results were mainly due to the sluggish performance of memory chips amid the global economic slowdown. The demand for semiconductors plunged as interest rates rose and concerns over a prolonged economic slowdown in the second half of last year. In fact, operating profits for the company's chip business in Q4 came in at around 270 billion won or almost 220 million dollars. Compared to the same period a year earlier, that's a drop of 97 percent. Other sectors like home appliances and smartphones also saw a drop in profits, too. The tech giant's operating profit for 2022 as a whole came in at a little over 43-point-3 trillion won or 35-point-2 billion dollars. That's another drop, this time almost 16 percent compared to the previous year. Sales for the year increased 8 percent to over 302 trillion won or about 245 billion dollars marking the first time that Samsung's annual sales have surpassed 300 trillion won. Meanwhile, analysts say Samsung will continue to see a sluggish performance in the first quarter of 2023 as well as there are no signs of recovery in global IT demand. To tame concerns, the company said it plans to supply more server-used memory chips following the release of a new central processing unit by Intel. It also aims to expand sales of its mobile flagship model Galaxy S23 while strengthening its premium tablet PCs and wearable products. Lee Rae-hyun, Arirang News. #Samsung #Earnings_shock #Arirang_News 📣 Facebook : / arirangtvnews 📣 Twitter : / arirangtvnews 📣 Homepage : https://v2.arirang.com/ 2023-01-31, 12:00 (KST)
