OUR Samsung is the first of a series of companies to present its balance sheet for 2022 this January. Last year, the South Korean giant hit a new record annual revenue of 302.23 trillion South Korean won (1.2 trillion reais). But the company’s operating profit plummeted due to weak interest in its chips and low demand for Galaxy smartphones.

Samsung is betting on the Galaxy S23 to boost its profits

The manufacturer’s operating profit for the last year was 43.38 trillion South Korean won (179 billion reais), which is about BRL 35.3 billion less than in 2021.. In its balance sheet, the company points out that the culprit is a deteriorating business environment “due to weak demand in the midst of a global economic downturn.”

One of the culprits for this drop in profits Samsung this is low number of sales of mid-range smartphones and input. That’s because premium models were able to meet market expectations, even selling less in the last quarter of the year.

Credits: Babak Habibi on Unsplash

If last year was bad, the company believes that the mobile market could get even worse in 2023 “due to continued macroeconomic conditions.” But despite this, it is expected that the demand for premium devices will continue, and the company is betting on the series. Galaxy S23 as one of the assets not to be hit so hard by the slowdown in this sector.

Lack of interest in South Korean chips was a problem

But apart from the smartphone division, the semiconductor sector Samsung this was also one of the manufacturer’s problems last year. Operating profit in this area fell from 8.84 trillion won (~37 billion reais) in 2021 to just 0.27 trillion won (~1.1 billion reais) in 2022.

The manufacturer expects this low demand for its chips to continue through the first months of 2023. But he expects demand for his semiconductors to pick up again in the second half of this year.

Mundo Conectado Deal Center: selection of discounts and lowest prices
Best deals on electronics, cell phones, TVs, soundbars, drones and more

Via: Engadget Source: Samsung

…..