Samsung financial results for 2023 reveal a seven-fold decline in profit

Samsung posted its financial results for the fourth quarter and the calendar 2023, and the results are disappointing, to put it mildly. Total sales fell down on a yearly basis for a second year in a row, and this time, the decline was 14%.

Operating profit for the whole of 2023 was just KRW 6.57 trillion ($5 billion) – nearly seven times less than the KRW 43.38 trillion ($32.58 billion) posted in 2022.

The company said that Q4 revenue and profit increased, compared with the previous three-month period, mostly due to improved performance and higher prices of memory, as well as the…

​ Samsung posted its financial results for the fourth quarter and the calendar 2023, and the results are disappointing, to put it mildly. Total sales fell down on a yearly basis for a second year in a row, and this time, the decline was 14%.

Operating profit for the whole of 2023 was just KRW 6.57 trillion ($5 billion) – nearly seven times less than the KRW 43.38 trillion ($32.58 billion) posted in 2022.

The company said that Q4 revenue and profit increased, compared with the previous three-month period, mostly due to improved performance and higher prices of memory, as well as the…   Read More GSMArena.com – Latest articles