Samsung has announced its financial results for the fourth quarter of 2022 and also for the full year of 2022.
The company reported consolidated revenue of KRW 70.46 trillion and KRW 4.31 trillion in operating profit. Samsung also reported a total revenue in 2023 of 302.23 trillion and an operating profit of KRW 43.38 trillion.
The business environment deteriorated significantly in the fourth quarter due to weak demand amid a global economic slowdown. Earnings at the Memory Business decreased sharply as prices fell and customers continued to adjust inventory. The System LSI Business also saw a decline in earnings as sales of key products were weighed down by inventory adjustments in the industry. The Foundry Business posted a new record for quarterly revenue while profit increased year-on-year on the back of advanced node capacity expansion as well as customer base and application area diversification.
Samsung Display Corporation (SDC) saw earnings in the mobile panel business decline as smartphone demand fell while the large panel business narrowed its losses as sales of QD-OLED for TVs increased and as the business’s LCD inventory was fully depleted.
Revenue and profit at the Mobile eXperience (MX) Business declined amid weak demand in the mid- to low-end segments while the Networks Business posted an increase in revenue led by domestic demand for 5G installations and expansion in overseas businesses.
You can see the full Samsung financial results for Q4 and the full year of 2022 over at Samsung’s website at the link below.
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