From “CNBC”:

Samsung Electronics posted a 34.57% drop in operating profit in the fourth quarter from a year ago. The company fell short of earnings estimates, with revenue at 67.78 trillion won versus an estimated 69.27 trillion won, while operating profit was 2.82 trillion won versus an estimate of 3.43 trillion won. The semiconductor business fell into a record loss of 14.88 trillion won, and Samsung expects earnings to improve in the second half of 2024.
Samsung’s revenue for the quarter dropped 3.8% from a year ago, and operating profit saw a 34.57% decrease in the same period.
As for the smartphone business, Samsung said sales and profit declined from the previous quarter due to fading effects of new models launched earlier. Apple overtook Samsung in terms of smartphone shipments in 2023, with a commanding market share of 20%.
Samsung expects a drop in smartphone demand due to seasonality but foresees growth in the premium segment in the first quarter. The company will launch its AI-enabled Galaxy S24 smartphones to boost sales and establish Samsung as a leading brand in the AI smartphone market.
In the memory chip market, prices plummeted last year due to inflationary pressures, causing a significant drop in operating profit for Samsung. However, the company expects the memory market and demand for IT to continue recovering in 2024. Roadmaps to mass produce 2-nanometer chips in 2025 are underway, with the expectation of further price hikes and a rebound in earnings for memory makers.



Read more: Samsung Electronics Q4 2023 earnings report