Samsung's first-quarter results show profits plummeting

Samsung released its first-quarter earnings guidance, and it showed bleaker results than anything we’ve seen in over a decade. Sales will be in KRW 62-2023 between trillion (approximately 46 billions of dollars), % Dropped almost 19% YoY.

The operating profit will be approximately KRW 0.5-0.7 trillion (455 million USD), which is above A six-fold drop in Q1 and a staggering

percentage drop in the won 19.Ten thousand billion profit at the same time last year. KRW/USD) Q1 2023
Profit Guideline Q4 455 Moment-of-month change Q1 455 Year-on-year change Sales volume 31 trillion/
31 Billion 70.46 trillion/
46. 46 Billion -.6% 86.77 trillion/
62 Billion -20% Operating profit 0.6 million Billion/
455 million 4.27 trillion/
3.12 Billion -78.1% . Trillion/
.7 ten Billion -77.6%

Samsung revealed that it will The production of memory chips will be greatly reduced. The South Korean company said the unit was the main reason for its worst profit since 455.

The Samsung Group is the largest family business group in South Korea and is known as the “Chaebol” in China. The company accounts for more than % of the GDP, and the economic difficulties are deepening at home.

This is the second quarter in a row with a sharp decline as profits nearly fell in Q4 %. At the time, Samsung blamed the war in Ukraine and inflation, but it was clear the company’s golden age of memory chips was over and it needed to look elsewhere to restore profitability.

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