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Samsung reports record loss in Q1 2023, cutting chip output
Today, Samsung officially published the provisional results for the first quarter of 2023 with sales of 63 trillion won and an operating profit of 0.6 trillion won on a consolidated basis. Due to the global economic downturn and reduced chip demand, Samsung reported a 14-year record loss in Q1 2023.
Samsung revealed that the performance (loss) of Q1 2023 with sales decreased by 10.59 percent and operating profit by 86.08 percent compared to the previous quarter, and sales decreased by 19 percent and operating profit by 95.75 percent compared to the same period last year.
Samsung Q1 2023 Earnings Guidance
- Consolidated Sales: Approximately 63 trillion Korean won
- Consolidated Operating Profit: Approximately 0.6 trillion Korean won
Do note that the above estimates are based on K-IFRS. The Korean disclosure regulations don’t allow earnings estimates to be offered as a range. In order to follow such regulations, the above figures represent the median of the estimate ranges provided below.
- Sales: 62 ~ 64 trillion Korean won
- Operating Profit: 0.5 ~ 0.7 trillion Korean won
Cutting chip production
The South Korean tech titan reportedly said that memory demand had dropped sharply because of a weak global economy and customers slowing purchases as they focused on using up their stocks. To get rid of further losses, it’s cutting chip production.
“We are lowering the production of memory chips by a meaningful level, especially that of products with supply secured.”
Since the company will be trimming the chip production, it didn’t reveal the size of the planned production cut, but it sent a strong signal. It could have a tough decision for Samsung as it recently said that there will be small adjustments like pauses for refurbishing production lines but not a full-blown cut.
Google is putting much effort into Gemini Assistant. The company has already replaced Google Assistant with Gemini. Now, Google apparently working to slap a Gemini AI button right on your Samsung Galaxy phone’s lock screen.
AndroidAuthority discovered Google’s experiment to bring the Gemini AI button to Samsung Galaxy’s lock screen. It’s going to be an Android feature, which Samsung won’t miss out on bringing to Galaxy smartphones.
Android lets you trigger Gemini in many ways. You can swipe up from the home screen’s bottom, press and hold the home button, or hold the power key. A dedicated AI button on the lock screen would make things a lot easier for consumers.
The QPR1 Beta 2 of Android 15 has a flag, which could unlock the AI button on the lock screen. Mishaal managed to enable the button on the Pixel smartphone, placed right below the fingerprint sensing area on the lock screen.
Image – Android Authority
Although the button appeared on the lock screen, it doesn’t function at all. It’s a pill-shaped toggle, which is slightly larger than the two lock screen shortcuts. The button also has the AI sparkle icon in the middle, which looks classy.
Android 15 is about to begin rolling out on Pixel smartphones. Google is also running the QPR Beta Program on various Pixel models. The Gemini AI button could be a part of the company’s preparations for the Android 16 operating system.
MediaTek Dimensity 9400 will be equipped with Multimodal Gemini Nano capabilities. MediaTek today confirmed its collaboration with Google. Future flagship chipsets, starting with the Dimensity 9400 will feature Gemini Nano with multimodality.
According to MediaTek, Dimensity SoCs are now optimized to support Gemini Nano with new multimodal capabilities. The upcoming chip will debut Gemini Nano integration, with existing models that could also add support in the future.
MediaTek revealed that the Dimensity 9400 features a new 8th-gen NPU with hardware acceleration for text, image, and speech. The Taiwanese chip designer is expanding its footsteps eyeing significant growth amid the AI boom.
Samsung’s recently launched Galaxy Tab S10 series supports GenAI capabilities. It means the Dimensity 9300+ processor could also gain multimodal Gemini Nano integration. We are hearing that the S25 could also use Dimensity 9400.
MediaTek’s partnership with Google highlights a shared vision for bringing Generative AI experiences across the Android ecosystem, and is a big step forward in the advancement of complex AI models running on-device.
Multimodal Gemini Nano will ensure users can take images and receive detailed descriptions of what’s been captured. MediaTek previously announced support for Google’s LLM, optimized for on-device AI processing.
Samsung recently updated its software support plan for October 2024, and it has noted that the Galaxy Z Fold 2 5G will no longer receive any updates. This popular foldable smartphone has been removed from the list of eligible devices for One UI updates and security patches because it has completed its update cycle.
The Galaxy Z Fold 2 was launched in 2020, initially coming with Android 10. It has since received updates, including the Android 13 update with One UI 5.1.1. After that, it is not eligible for any more major Android OS updates. Now, Samsung has also ended its software support, which means it will not receive any new security updates.
Even though the Galaxy Z Fold 2 5G will not receive further updates from Samsung, it is still a secure and functional device for everyday use. The phone operates on Android 13, which supports all major apps, including those for banking, so users can continue to perform their daily tasks without issues.
Additionally, Google Play continues to provide system updates to ensure that the phone’s key features remain up to date.
For those considering an upgrade, Samsung offers new foldable smartphones, including the Galaxy Z Fold 6, Galaxy Z Flip 6, Galaxy Z Fold 5, and Galaxy Z Flip 5. These newer models come with improved features and will receive software updates for a longer period.
However, if your Galaxy Z Fold 2 is still working well for you, there’s no need to replace it. The device can still serve your needs effectively, even without the latest updates.
October 2024 | Samsung Galaxy Devices getting Monthly and Quarterly Updates