Samsung has announced its financial results for the first quarter of 2023, the company has quarterly revenue of KRW 63.75 trillion and an operating profit of KRW 0.64 trillion.
The Company posted KRW 63.75 trillion in consolidated revenue, a 10% decline from the previous quarter, as overall consumer spending slowed amid the uncertain global macroeconomic environment. Operating profit was KRW 0.64 trillion as the DS (Device Solutions) Division faced decreased demand, while profit in the DX (Device eXperience) Division increased.
The DS Division’s profit declined from the previous quarter due to weak demand in the Memory Business, a decline in utilization rates in the Foundry Business and continued weak demand and inventory adjustments from customers.
Samsung Display Corporation (SDC) saw earnings in the mobile panel business decline quarter-on-quarter amid a market contraction, while the large panel business slightly narrowed its losses.
The strength in the Korean won against the US dollar, euro and most major emerging currencies resulted in a negative impact of approximately KRW 0.7 trillion on company-wide operating profit, mostly in the component business.
You can find out more details about all of Samsung’s financial results for the first quarter of 2023 over at Samsung’s website at the link below.
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