As a result of the global economic downturn, Samsung Electronics reported today, Thursday, a 31% decline in third-quarter profits. The company claimed that the political haziness will hamper demand for its products until early 2023.
The world’s leading memory and smartphone firm claimed that despite the unfavourable state of the global economy, late next year may see a recovery in semiconductor demand as more memory chips are needed for data centres and new computers.
Operating profits reached 10. 85 trillion ($ 7. 7 billion) in the quarter from July to September, a decrease from 15. 8 trillion Won in the previous year, the first decrease on an annual basis in nearly three years.
This is in line with Samsung’s earlier forecasts for operating profits of 10.8 trillion Won, and sales increased by 4% to 76.8 trillion Won.
Profits from the chip business for the corporation dropped from 10.07 trillion won to 5.12 trillion won.
According to Samsung, mobile phone industry revenues fell marginally from 3. 24 trillion Won to 3.
36 trillion Won the year before as a result of rising demand for cutting-edge cellphones and newly introduced staff to make up for the market contraction.
Samsung expected that the demand for mobile phones in 2023 will recover slightly for 2022, and said it plans to focus on its leading and foldable smartphones to take advantage of the relatively strong demand for distinct products..
Samsung anticipates that with the decline in revenues, the dusts will return in the latter half of 2023.
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