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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.
At SID 2023, Samsung unveiled next-gen display technologies and showcased them through device prototypes. I like Rollable Flex the most, while the Flex In and Out and Sensor OLED Display panels are stunningly wonderful. Check the next-gen Samsung Display prototypes below:
Rollable Flex
Rollable Flex expands more than five times, from 49 mm to 254.4 mm in length. While conventional foldable or slidable form factors offer up to three times the scalability, Rollable Flex overcomes such limitations by enabling the display to be rolled and unrolled on an O-shaped axis like a scroll.
Flex In & Out
This new foldable phone concept can be folded both inward and outward 360 degrees.
The ‘in-folding’ form factor, which can only be folded inward, requires a separate external panel to view information while folded, but the Flex In & Out is able to overcome that, opening up the possibility of lighter and thinner foldable phones.
Sensor OLED Display
Samsung Display unveiled a new Sensor OLED Display that can recognize fingerprints anywhere on the screen and even check cardiovascular health at SID Display Week 2023. It can measure the user’s heart rate, blood pressure and stress level simply with the touch of two fingers.
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Samsung India has recently posted a new video, which aims to attract Apple iPhone users by letting them try the Galaxy experience. The video begins featuring an iPhone user asking her have you ever experienced Samsung Galaxy and what she could do on her phone.
Here, the video begins promoting the Try Galaxy platform, which turns Apple iPhone into a Samsung Galaxy S23 smartphone running the latest Android 13-based One UI 5.1. It’s all about attracting iPhone users by showcasing the limitless possibilities and innovations in Samsung products.
Samsung’s Try Galaxy is a mind-blowing feature, which works on all iPhones using the Safari app’s Home screen shortcut ability. All they need to do is to visit trygalaxy[dot]com in Safari Browser on their iPhone, follow the on-screen steps, and create a home screen shortcut.
Watch the video below:
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Samsung Galaxy A53 and Galaxy A73 smartphones are grabbing the May 2023 security update in India. The latest security patch is already available for these devices in different countries and the company is now expanding it to more markets.
May 2023 security update for Samsung Galaxy A73 smartphone comes with One UI build version A736BXXU3CWD4 and an updated package size of 645.35 MB. The latest update brings Camera improvements and an Image Clipper feature for Gallery.
On the other side, the Galaxy A53 smartphone is getting the latest Android patch with PDA version A536EXXS5CWDA and an installation package of 207.11 MB.
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Samsung’s May 2023 security update fixes over 70 issues mainly related to Bootloader, App lock, Call Settings, and Telephony framework. The latest firmware overall improves the performance of the device.
If you are using Samsung Galaxy A73 or Galaxy A53 and live in India, then you can install the update by visiting Settings >> Software Update >> Download and install option.
