Samsung Electronics operating profit fell 95%
- April 27, 2023
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Samsung Electronics has released the results for the first quarter of fiscal 2023, which shows the company’s lowest profit in 14 years. The company’s turnover decreased by 18%
Samsung Electronics has released the results for the first quarter of fiscal 2023, which shows the company’s lowest profit in 14 years. The company’s turnover decreased by 18% year-on-year to approximately $47.5 billion. However, operating profit fell an incredible 95% to $478.6 million. Net profit also fell sharply: 86.1%.
These results are based on the results of Samsung’s semiconductor division, which has been the company’s main driver for several years. Now we’re talking about $3.4 billion in operating losses.
Interestingly, the MX mobile division delivered good results on the contrary. However, Samsung bundles the data of this section with the Networks section. Together, they generated an operating profit of $2.9 billion.
Source: Port Altele
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