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Samsung SDI Q3 2023: Sales Soar, Profits Under Pressure
In Q3 2023, Samsung SDI posted a weaker-than-expected $370 million (496 billion won) in operating profit, which was impacted by slowing demand for EVs and electronic devices.
According to the Korean battery maker’s regulatory filing, operating profits of Samsung SDI down 12.3 percent on the year, missing the market consensus of 506.2 billion won compiled by FnGuide, reports Korea JoongAng Daily.
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In the period of Q3 2023 (July-to-September), sales of Samsung SDI rose 10.8 percent to 5.95 trillion won in line with analyst expectations. The quarterly figure is a record-high figure for any third quarter in the company’s history.
Apart from this, the company’s net profit came in at 622.4 billion won during the same period, down 2.5 percent on year, beating the market expectation of 500 billion won.
