Samsung posted its monetary outcomes for the fourth quarter and the calendar 2023, and the outcomes are disappointing, to place it mildly. Whole gross sales fell down on a yearly foundation for a second yr in a row, and this time, the decline was 14%.
Working revenue for the entire of 2023 was simply KRW 6.57 trillion ($5 billion) – practically seven occasions lower than the KRW 43.38 trillion ($32.58 billion) posted in 2022.
The corporate mentioned that This fall income and revenue elevated, in contrast with the earlier three-month interval, largely because of improved efficiency and better costs of reminiscence, in addition to the continued power of gross sales of premium show merchandise.
Samsung mentioned it’s going to give attention to bettering profitability by rising gross sales of high-value-added merchandise. This contains units with generative AI – the Galaxy S24 sequence, in addition to present foldables that ought to get the brand new Galaxy AI options with a software program replace.
Market demand for smartphones elevated barely QoQ, however the full yr outcomes nonetheless remained in 7% decline, whereas revenue shrunk 20%.
The primary quarter of the yr is mostly sturdy for Samsung’s MX (Cellular eXperience) division exactly due to the Galaxy S sequence. The corporate predicted a normal decline in market demand, however the premium section ought to improve year-on-year.
Expectations for 2024 are the demand to rebound because of a worldwide financial restoration, and this contains smartphones, tablets, and TWS units.
