Samsung boasted of the results. Weak? NO. They are the worst in over a decade

Samsung shared its financial results for the fourth quarter of 2023 and the entire year last year on Wednesday. Unfortunately, the data are not optimistic. The company, of course, made a lot of money, but both its revenues and profits decreased compared to 2022.

Samsung made money, but less. The latest results are not optimistic

Like , in the fourth quarter the giant’s revenues amounted to approximately USD 51 billion, which means a decline of 3.8%. compared to the same period in 2022. Operating profit dropped significantly more and amounted to approximately USD 2.1 billion in this period, which means a decline of 34.6%.

Interestingly, such results mean that both revenues and profit have improved compared to the third quarter of 2023, which looked even worse. Samsung explains in the announcement that this was due to the rising prices of memory chips and stable and good sales of high-end displays. The company announced that this year it will focus on increasing sales of its most profitable products to improve its profitability.

in turn, in the entire year 2023, sales of Samsung products decreased by as much as 14%. Every year. This, of course, translated into poor revenues and profits. Samsung thus closed the entire year of 2023 with an operating profit of less than $5 billion, which means a seven-fold decrease compared to 2022 (less than $32.6 billion). that these are Samsung’s worst results in over a decade.

Samsung expects only a “moderate” improvement in profits in the first half of 2024, but a significant improvement in the second half of this year. It was added that in the near future “the business environment will be influenced by continuing macroeconomic uncertainty”, but at the same time, some recovery in the computer, storage media and mobile devices market is expected at the beginning of 2024.