Samsung Electronics Reports 34% Drop in Fourth Quarter Operating Profit: Analysis and Insights

2024-01-31 00:15:46

SEOUL, Jan 31 (Reuters) – Samsung Electronics reported a 34 percent drop in fourth-quarter operating profit on Wednesday as weak demand for televisions and home appliances outweighed a recovery in global chip market.

The world’s top chip and smartphone maker said operating profit fell to 2.8 trillion won (2.08 billion euros) in the October-December period, from 4.3 trillion won a year earlier. early.

Samsung said earlier this month that it expected a 35% drop in operating profit in the fourth quarter.

The group’s revenue stood at 67.8 trillion won in the fourth quarter, down 4 percent. (Report by Joyce Lee and Heekyong Yang; French version Camille Raynaud)

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