2023-04-27 07:58:22
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Samsung just announced the 2023 Q1financial report, the result is quite different from the same period last year when it made a lot of money. In the quarter, their consolidated revenue was $47.5 billion, but operating profit was only $477 million, mainly due to record losses in the semiconductor business. Samsung’s digital solutions division recorded revenue of $10.2 billion in Q1, but posted an operating loss of $3.4 billion. Demand for memory products has been falling over the past few months, and the division posted an operating profit of just $201 million in Q4 last year.
Samsung believes that manufacturers’ inventory adjustments, the economic slowdown and the resulting shrinkage of customer budgets are the main factors causing the current situation, but it believes that the situation will turn around in the second half of this year. In terms of display panels, mobile products struggled to achieve growth despite market deterioration, and the loss of large-size panels also decreased in this quarter.
As for the action department, the performance is much better. The mobile experience and network department, which is responsible for mobile devices, communication network facilities and other businesses, achieved a consolidated revenue of US$23.7 billion in Q1 and an operating profit of US$2.9 billion. According to Samsung, although the overall demand for smartphones in the current market is not large, the high-end segment is growing year by year. The strong sales performance of the Galaxy S23 Ultra has driven performance, and Samsung will further increase the marketing of folding products.
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