Dejkala
No Result
View All Result
  • Home
  • Tech
  • Banking & loan
  • Games
  • Car’s & Bike’s
  • Home
  • Tech
  • Banking & loan
  • Games
  • Car’s & Bike’s
No Result
View All Result
Dejkala
No Result
View All Result
Home Latest update

Samsung posts a 23 percent profit decline due to weak demand- Dejkala

by hasibul
October 27, 2022
in Latest update
0
Samsung posts a 23 percent profit decline due to weak demand- Dejkala
0
VIEWS
Share on FacebookShare on Twitter


Samsung has reported a record consolidated revenue of 76.78 trillion Korean won (US$54 billion) for the third quarter of 2022, but it has also posted a decline in profit from the previous quarter and year-over-year. The tech giant’s operating profit (KRW 10.85 trillion or US$7.6 billion) has declined 23 percent from the second quarter and around 31.4 percent from the same period last year. Samsung’s operating profit from July to September 2021 was KRW 15.82 trillion, which was 26 percent higher than the quarter prior to that. In its earnings report, the company said its various divisions have been grappling with weak demand in the midst of global economic instability. 

Weak demand for consumer products and customers’ inventory adjustments caused its Memory business’ earnings to shrink. Its LSI business’ earnings fell due to weak demand for phones and TVs, as well, though revenue from SoCs grew due to an increased portion of 5G. Samsung’s Visual Display Business was also affected by low demand and increased costs.

Samsung’s Mobile eXperience (MX) business was its bright spot last quarter. Together with the company’s Networks business, it posted KRW 32.21 trillion (US$22.6 billion) in consolidated revenue and KRW 3.24 trillion (US$2.27 billion) in operating profit, which are both higher than the previous quarter’s. The company attributes the MX business’ success to sales of the Galaxy Z Fold 4 and Z Flip 4, both of which showed stronger growth than their predecessors. Further, the Galaxy S22 series was able to maintain “solid sales momentum.” 

The tech giant expects its mobile business to perform even better in the fourth quarter as demand for smartphones and wearables increases due to year-end seasonality. And since the smartphone and wearable markets are expected to grow as a whole next year, Samsung’s mobile business might continue bringing in solid profits. Another division that did well in the third quarter is the tech giant’s Foundry business, which delivered record earnings (KRW 23.02 trillion or US$16 billion in consolidated revenue and KRW 5.12 trillion or US$3.6 billion in operating profit) thanks to solid demand from global customers.

On the same day that it released its third quarter earnings, Samsung has also formally named Jay Y. Lee as its executive chairman. It’s mostly a symbolic move, seeing as Lee is the company’s de-facto leader anyway. But as Bloomberg notes, the title could help make things smoother for Lee as he closes deals with other companies around the world in an effort to expand Samsung’s semiconductor and biotechnology businesses. Lee, who was sentenced to five years in prison in 2017 after being found guilty of bribing public officials, received a presidential pardon in August so he could help South Korea overcome the economic crisis. 

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission. All prices are correct at the time of publishing.


ShareTweetShare

Related Posts

Philips Evnia 7000 monitor review: It shines bright, but doesn’t spark envy- Dejkala
Latest update

Philips Evnia 7000 monitor review: It shines bright, but doesn’t spark envy- Dejkala

June 8, 2023
Adobe brings Firefly, ‘commercially safe’ image-generating AI, to the enterprise- Dejkala
Latest update

Adobe brings Firefly, ‘commercially safe’ image-generating AI, to the enterprise- Dejkala

June 8, 2023
ChatGPT for iOS gets support for Siri and Shortcuts- Dejkala
Latest update

ChatGPT for iOS gets support for Siri and Shortcuts- Dejkala

June 8, 2023
Boeing hit with a lawsuit over alleged “theft” of SLS rocket tools- Dejkala
Latest update

Boeing hit with a lawsuit over alleged “theft” of SLS rocket tools- Dejkala

June 8, 2023
The Bizarre Reality of Getting Online in North Korea- Dejkala
Latest update

The Bizarre Reality of Getting Online in North Korea- Dejkala

June 8, 2023
A survey of 472 corporate board directors ahead of the SEC's cyber-risk regulations: 76% have at least one expert, 62% say risk awareness is improving, and more (Wall Street Journal)- Dejkala
Latest update

A survey of 472 corporate board directors ahead of the SEC's cyber-risk regulations: 76% have at least one expert, 62% say risk awareness is improving, and more (Wall Street Journal)- Dejkala

June 8, 2023
Next Post
Japanese chipmaker Kioxia Holdings and US' Western Digital open a new ~$6.79B flash memory fab in Mie Prefecture, amid a market downturn for memory chips (Ryosuke Eguchi/Nikkei Asia)- Dejkala

Japanese chipmaker Kioxia Holdings and US' Western Digital open a new ~$6.79B flash memory fab in Mie Prefecture, amid a market downturn for memory chips (Ryosuke Eguchi/Nikkei Asia)- Dejkala

Leave a Reply Cancel reply

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

Categories

  • Earn Money Online
  • Game news and review
  • Laptops
  • Latest update
  • Smartphone Reviews & News
  • TODAY Tech News
  • Upcoming Technology
  • Wordpress plugin
  • WordPress themes
  • World Wide Bike Reviews and News
  • World Wide Car News

Recommended

City of Oakland declares state of emergency in wake of ransomware attack- Dejkala

City of Oakland declares state of emergency in wake of ransomware attack- Dejkala

February 16, 2023
Microsoft will stop selling Windows 10 on January 31, but workarounds remain- Dejkala

Microsoft will stop selling Windows 10 on January 31, but workarounds remain- Dejkala

January 23, 2023
The big reuse: 25 MWh of ex-car batteries go on the grid in California- Dejkala

The big reuse: 25 MWh of ex-car batteries go on the grid in California- Dejkala

February 21, 2023
Apple’s AirPods Pro drop back to $200, plus the rest of the week’s best tech deals- Dejkala

Apple’s AirPods Pro drop back to $200, plus the rest of the week’s best tech deals- Dejkala

March 24, 2023
Radeon RX 7900 XTX unboxed: A closer look at AMD’s gorgeous GPU- Dejkala

Radeon RX 7900 XTX unboxed: A closer look at AMD’s gorgeous GPU- Dejkala

December 8, 2022
The US Fed raising interest rates faster than expected is driving the crypto crash, tech layoffs, and more, as companies value "money now" over long-term bets (Matthew Yglesias/Slow Boring)- Dejkala

The US Fed raising interest rates faster than expected is driving the crypto crash, tech layoffs, and more, as companies value "money now" over long-term bets (Matthew Yglesias/Slow Boring)- Dejkala

November 24, 2022
Philips Evnia 7000 monitor review: It shines bright, but doesn’t spark envy- Dejkala

Philips Evnia 7000 monitor review: It shines bright, but doesn’t spark envy- Dejkala

June 8, 2023
Adobe brings Firefly, ‘commercially safe’ image-generating AI, to the enterprise- Dejkala

Adobe brings Firefly, ‘commercially safe’ image-generating AI, to the enterprise- Dejkala

June 8, 2023
ChatGPT for iOS gets support for Siri and Shortcuts- Dejkala

ChatGPT for iOS gets support for Siri and Shortcuts- Dejkala

June 8, 2023

Categories

  • Earn Money Online
  • Game news and review
  • Laptops
  • Latest update
  • Smartphone Reviews & News
  • TODAY Tech News
  • Upcoming Technology
  • Wordpress plugin
  • WordPress themes
  • World Wide Bike Reviews and News
  • World Wide Car News

Pages

  • About Us
  • Banking & loan
  • Car’s & Bike’s
  • Contact Us
  • Games
  • Home
  • Home 2
  • Privacy Policy
  • Tech

© 2022 Dejkala

No Result
View All Result
  • Homepages
    • Home – Layout 1
    • Home – Layout 2

© 2022 Dejkala