Samsung Electronics posted its quarterly steerage forward of the discharge of its detailed fiscal report, and for the second quarter in a row the Korean firm expects a drastic decline in income. The consolidated figures present an working revenue of KRW0.5-0.7 billion ($455 million), which is over 95% lower than the identical interval final 12 months.
The gross sales figures had been additionally down, each quarterly and yearly. Estimations are between 59 and 61 trillion KRW in whole income, which is about $46 billion.
| (all items in KRW / USD) |
Q2 2023 Earnings Steering |
Q1 2023 | QoQ Change | Q2 2022 | YoY Change |
| Gross sales | 60 trillion / 46 billion |
63.75 trillion / 48.83 billion |
-5% | 77.2 trillion / 59.13 billion |
-22% |
| Working Revenue | 0.6 trillion / 455 million |
0.64 trillion / 490 million |
-6.25% | 14.1 trillion / 10.8 billion |
-95.7% |
The final time Samsung had income this low was in Q1 2009 when the quantity stood at KRW590 billion. The Korean firm will submit the complete outcomes on July 27 and we’ll get the complete image then.
We already know the large is anticipated to cut back on the manufacturing of reminiscence chips attributable to weak demand and geopolitical uncertainties. The conflict in Ukraine is now not a viable excuse, that means reminiscence chips are simply now not the golden egg rooster, and Samsung must diversify its technique to hold the cash flowing.
