According to Yonhap News Agency (Korea), Samsung Electronics is expected to list a revenue of 8.8 trillion won (about 44.88 billion yuan) in the fourth quarter of 2022 which means a year-on-year decrease of 36.8%. As per the latest report, this will decrease to 19.2% month-on-month.
It also dropped the profit of the semiconductor business. The enhancement we will see in the securities industry that may get a profit of 2 trillion won (about 10.2 billion yuan) to 4 trillion won (about 20.4 billion yuan).
Recently the South Korean tech giant, Samsung said its third-quarter operating profits were down 31.39 percent year on year after a global economic downturn hit demand for consumer electronics.
“Earnings in its crucial memory chips division dropped, the company said in a statement, adding that demand for consumer products remained weak”.
Samsung official press release – Operating profit for July to September 2022 fell to 10 trillion won ($7 billion), down from 15.8 trillion won for the same period last year.