On April 26, 2023, Samsung Electro-Mechanics Co. announced its Q1 2023 net income. According to the information, in the first quarter of this year, the net income was 118.1 billion won (US$88.4 million), down 63.3 percent from a year earlier.
The company said in a regulatory filing that it posted 140.1 billion won in operating profit for the quarter, compared with 410.5 billion won a year ago. Revenue fell 22.7 percent to 2.02 trillion won.
In response, the company said that its performance declined as demand for IT devices such as PCs decreased due to the global economic downturn. Although MLCC shipments increased in the Chinese market and the supply of new electronic devices increased, performance decreased due to weak overall set demand and exchange rate effects.
Meanwhile, for the second quarter, the company is likely to increase the supply of high-value-added products such as small and ultra-high-capacity products with the launch of new smartphones and strengthen customer response capabilities by strengthening the lineup of electronic products for which solid demand is expected.
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