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Samsung reveals This autumn 2022 earnings, revenue hits 8-year low

Posted on 8 March, 20238 March, 2023 By William Kutz

Samsung has revealed its last earnings report for This autumn 2022 and FY (monetary yr) 2022. As instructed by its earnings steering earlier this month, the corporate suffered an enormous revenue decline final yr, notably within the last quarter. Its working revenue within the year-ending quarter hit an eight-year low.

In accordance with Samsung’s press launch, the corporate generated KRW 70.46 trillion (approx. USD 57.16 billion) in consolidated gross sales income within the last quarter of 2022. Whereas that could be a wholesome determine comparable with the previous years, the Korean agency’s earnings weren’t on top of things.

Rising manufacturing prices and element costs meant it solely made KRW 4.31 trillion (approx. USD 3.5 billion) in working earnings between October and December final yr. That marks a 69% decline from the KRW 13.87 trillion it made throughout the identical interval in 2021. It’s Samsung’s lowest This autumn earnings previously eight years.

The Korean behemoth’s working earnings for the total yr of 2022 had been additionally decrease than in 2021. It made KRW 43.38 trillion (approx. USD 35.19 billion) final yr, down 16% from KRW 51.63 trillion within the yr earlier than.

Nevertheless, a worldwide worth enhance meant that the annual income reached an all-time excessive of KRW 302.23 trillion (approx. USD 245.18 billion) in 2022. The earlier historic excessive was KRW 279.6 trillion in 2021. Samsung’s revenue decline regardless of a wholesome income enhance tells you that the corporate considerably lowered its revenue margin final yr.

Weak demand for reminiscence chips affected Samsung badly in This autumn 2022

Samsung is the world’s largest vendor of smartphones and reminiscence chips. However, the corporate makes extra money from the latter enterprise. Properly, it did till This autumn 2022. The Korean behemoth solely took dwelling KRW 0.27 trillion (approx. USD 218 million) from your entire semiconductor companies within the year-ending quarter.

That’s as a result of weak demand for reminiscence chips induced by the worldwide financial headwinds which have made shoppers spend cautiously. All the tech business has been hit onerous by this international financial downturn.

Sadly, Samsung isn’t anticipating issues to enhance anytime quickly. The corporate has already estimated its semiconductor earnings to be halved in 2023, which doesn’t sound good for its enterprise. It plans to safe profitability this yr by optimizing operations and managing prices.

The agency may also focus in the marketplace for premium merchandise, akin to high-end QLED TVs, which often have greater revenue margins. Foldable smartphones needs to be one other space of focus for Samsung. It should launch the Galaxy Z Fold 5 and Galaxy Z Flip 5 within the second half of the yr. The Galaxy S23 sequence flagships will arrive tomorrow.

Supply By https://www.androidheadlines.com/2023/01/samsung-reveals-q4-2022-earnings-profit-8-year-low.html

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