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Samsung Elec’s quarterly profit tumbled by two-thirds to an eight-year low
On January 6, Samsung announced provisional results for the fourth quarter of 2022 with sales of 70 trillion won and operating profit of 4.3 trillion won on a consolidated basis. Compared to the third quarter, Samsung Elec’s fourth-quarter profit plunged by two-thirds to an eight-year low.
According to Samsung, in the fourth quarter, sales decreased by 8.83% and operating profit by 60.37% QoQ, whereas sales decreased by 8.58% and operating profit by 69% YoY. Some of the major causes behind huge losses are hammered memory chip prices and curbed demand for electronic devices.
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Samsung Elec earnings guidance Q4, 2022
- Consolidated Sales: ~ 70 trillion Korean won
- Consolidated Operating Profit: ~ 4.3 trillion Korean won
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The world’s largest memory chip, smartphone and TV maker published its provisional performance estimation, which is based on the International Financial Reporting Standards (IFRS) adopted in Korea. The company shared this estimation for the convenience of investors.
In the smartphone business, Samsung is focussing on the Galaxy Z and Galaxy A series devices. It has been noticed that the sales of Galaxy devices increased but profit declined due to high sales of mid-range and budget devices. The company is going to reveal Galaxy S23 series next month, which will help it recover.
Due to the downturn in the global electronics market, Samsung recorded this radically low profit in the fourth quarter. Since the company’s foundry business is under threat, customers like Qualcomm are approaching alternatives for chipset printing such as TSMC.
Samsung quarterly earnings forecasts
Way back in July 2009, Samsung Electronics provided quarterly earnings forecasts for the first time in Korea. Later, the company applied IFRS in advance in 2010 to provide information based on global standards so that investors can more accurately predict earnings and judge corporate value.
Apple and Samsung’s mobile software bring their own set of features and innovations, but the question remains: does iOS 18 set a new standard that One UI 7 can’t meet? Let’s explore the strengths of both OSs and see how they compare.
iOS 18 is available on compatible Apple iPhone models internationally. Samsung is paying the price of reliance on the Android operating system. The delay in Android 15 seemingly caused One UI 7 Beta to be delayed and delayed.
Apple’s software is well known for its fluid animations and reliable functioning. Samsung is trying hard to challenge iOS reign but lags behind. Galaxy phones are literally unable to make sensible use of cutting-edge hardware specifications.
iOS 18 comes with many design enhancements, including updated widgets and improved notification management. These changes make a major impact on everyday usage, providing a more seamless and visually appealing user experience.
Apple Intelligence’s inclusion will help iOS lead further. The company has collaborated with OpenAI for AI capabilities on the iPhone. The software is deeply integrated with AI to deliver a seamless and reliable user experience.
It doesn’t mean iOS 18 is unbeatable.
iOS 18 is difficult to defeat but not impossible for Samsung’s One UI 7. The Galaxy AI suite is far ahead in terms of usability against Apple Intelligence. Galaxy phones have countless AI tricks that Apple would be able to adopt in years.
Samsung has to work on system stability and performance. The software always shines with its customization capabilities. The Galaxy’s hardware should be optimized for Android, so the processor, display, and camera would offer the most.
Whether you pick iOS or One UI, depends on your priorities. If you love the customization and openness of Android, One UI will be your first choice. Meanwhile, if you aren’t a power user and prefer reliable + stable UX, iOS would attract you.
One UI and iOS have their strengths. Samsung is expected to introduce the One UI 7 at the SDC24 event today. We are guessing the Stable rollout could be promised without the commencement of Beta testing activity as it’s already delayed.
Google clarified after Epic Games sued Samsung over One UI’s Auto Blocker feature. The company disclaims involvement in the creation or functioning of Auto Blocker. Meanwhile, Samsung said it is ready to contest a legal battle with Epic Games.
Recently, Google’s Head of Android Security and Privacy, David Kleidermacher, called Epic’s latest lawsuit a “meritless and dangerous” move. The executive clarified that Google did not request Samsung to “create” the Auto Blocker feature.
🧵Epic’s latest lawsuit is a meritless and dangerous move. Google did not request that Samsung create their Auto Blocker feature. (1/5) https://t.co/WFrPXAje9Z
— David Kleidermacher (@DaveKSecure) October 1, 2024
Following David’s clarification, MishaalRahman asked him about the functioning of Auto Blocker. He, then, explained that Google has no role in Samsung shipping Auto Blocker enabled by default in new Galaxy devices with One UI 6.1 and later.
TheVerge reached out to Samsung for a follow-up on the recent controversy. The company would not confirm or deny whether it worked with Google on Auto Blocker, but said “ready to contest” with Epic. Here is the full statement of a Samsung spokesperson:
- Contrary to Epic Game’s assertions, Samsung actively fosters market competition, enhances consumer choice, and conducts its operations fairly.
- The features integrated into our devices are designed in accordance with Samsung’s core principles of security, privacy, and user control, and we remain fully committed to safeguarding users’ personal data. Users have the choice to disable Auto Blocker at any time.
- We plan to vigorously contest Epic Game’s baseless claims.
Epic Games, in its lawsuit, claimed that Samsung intentionally crafted Auto Blocker to benefit Google. Epic highlighted that Samsung first debuted Auto Blocker and started shipping it enabled by default after a few months.
Samsung launched Auto Blocker in late 2023, which started arriving enabled by default in newer One UI versions. The feature disables app sideloading to secure your device against any unauthorized app installation.
Samsung and NTT DOCOMO unite to foster AI-powered 6G communication. Back in August, Samsung announced its partnership with Japan’s largest mobile carrier to jointly research the application of AI in next-gen mobile communications tech.
Samsung and NTT DOCOMO unite to foster AI-powered 6G communication.
The collaboration aims to use Samsung and NTT DOCOMO’s extensive technical expertise and business knowledge to accelerate AI research in 6G network communications. Notably, AI is expanding across various industries.
Samsung and NTT DOCOMO’s collaboration will also establish a foundation for the market’s transition into the 6G era. The technology is poised to enhance service quality for users and network operational efficiency for service providers.
Currently, communication quality optimization is conducted at the cell site level of mobile communication base stations. Moving forward, the goal is to achieve user-level optimization through the application of AI.
- For example, users entering areas between cell boundaries or areas with weak signals will be able to stream videos without interruptions and access more stable communication services.
Samsung and NTT DOCOMO have a long history of cooperation in mobile communication technology standardization within the 3GPP. The companies intend to leverage this joint technology research as an opportunity to deepen their cooperation.
