Samsung’s revenue reports released, Korean company saw 8-year base

They saw the bottom of the last 8 years: According to the latest revenue reports, Samsung is having a hard time.

Samsung has released its fourth quarter 2022 and financial year 2022 final results. The company’s profit appears to be at an eight-year low.The ongoing global economic downturn, rising costs, and reduced demand for smartphones and other consumer electronics were cited as the cause.

Samsung Electronics’ revenue was KRW 70.46 trillion in the quarter ended December 31, 2022 ( approximately $57.21 billion) and this was It means an 8% decrease compared to the 4th quarter of 2021.The operating profit of the company is KRW 4.31 trillion (down 69% compared to the 4th quarter of 2021). approximately $3.5 billion ) happened. Although the company’s annual revenue by 2022 reached a high level of KRW 302.23 trillion (approximately $245 billion), full year profit of only 43.38 trillion KRW ( approximately $35.22 billion) happened.

Samsung’s chip part Samsung DS it had a bad quarter while making the biggest contribution to the company’s revenue for many times. During the COVID-19 pandemic, the company had record-breaking sales of semiconductor chips such as DRAM and NAND storage used in smartphones, tablets, laptops, PCs, game consoles, wearables, TVs and even servers. But demand for these consumer electronics devices has fallen sharply due to high inflation, rising interest rates, continued economic calm and geopolitical tensions. Businesses began cutting costs, resulting in lower chip sales and lower chip prices.

Similarly, other parts of Samsung System LSI( manufacture of camera sensors, smartphone and car processors) and Samsung DX( consumer electronics ) also had a bad quarter. Not that Samsung Foundry( chip manufacturing division), with its 4nm and 5nm chips, achieved record numbers in sales throughout the year, and managed to cover some of the damage.