Samsung Chip

Samsung Income Plunged 95% on Lagging Demand, Reminiscence Worth Erosion

Posted on

The warning indicators relating to Samsung’s chip enterprise have been readily obvious for fairly a while, however the severity of the corporate’s troubles was realized yesterday. Samsung revealed its earnings (opens in new tab) for the primary quarter of 2023, and it wasn’t fairly. The corporate mentioned income got here in at 63.75 trillion Korean received ($47.6 billion), which was down 18 % in comparison with Q1 2022, however according to Samsung’s earlier steering. 

Nonetheless, the South Korean chip and electronics big mentioned that working revenue through the quarter plummeted from KRW 14.12 million ($10.5 billion) throughout Q1 2022 to simply KRW 640 billion ($476 million). To place that determine into perspective, Samsung hasn’t reported an working revenue that low since Q1 2009.

Supply hyperlink

Leave a Reply

Your email address will not be published. Required fields are marked *