Samsung has officially announced the earnings data for Q3 2023. The company’s revenue was KRW 67.4 trillion, and its operating profit rose sequentially to KRW 2.43 trillion based on strong sales of flagship models in mobile and strong demand for displays, as losses at the Device Solutions (DS) Division narrowed.
Samsung Q3 2023 Earnings Key Highlights
- The Memory Business reduced losses sequentially as sales of high valued-added products and average selling prices somewhat increased.
- The mobile panel business reported a significant increase in earnings on the back of new flagship model releases.
- The Device eXperience (DX) Division achieved solid results due to robust sales of premium smartphones and TVs.
- Harman posted a quarterly record in operating profit.
Samsung explained “In 2024, while macroeconomic uncertainties are likely to persist, memory market conditions are expected to recover. The DS Division will seek to expand sales of advanced node products and plans to meet demand for high-performance, high-bandwidth products by increasing sales of HBM3 and HBM3E with the industry-leading HBM production capacity in the industry. For the Foundry Business, the second generation 3-nanometer (nm) Gate-All-Around (GAA) process will start mass production and operations will begin at its new factory in Taylor, Texas. Furthermore, in the Advanced Package business, production will begin, based on the multiple orders it has received from domestic and overseas HPC customers, including orders for the Company’s turnkey service that combines logic, HBM and 2.5D advanced packaging technologies.”
In the third quarter, Samsung Electronics’ capital expenditure reached KRW 11.4 trillion, including KRW 10.2 trillion spent in the Device Solutions (DS) Division and KRW 0.7 trillion in Samsung Display Corporation (SDC). The cumulative total for the January-September period is KRW 36.7 trillion, with KRW 33.4 trillion allocated to the DS Division and KRW 1.6 trillion to SDC.
FOLLOW US ON – Telegram, Twitter, Facebook, WhatsApp and Google News