Samsung’s operating profit totaled 2.8 trillion won ($2.1 billion) for the three months through December (Q4 2023). Revenue, meanwhile, is pegged at 67 trillion won, down 4.9% from the previous year.
“Poor performance in the system semiconductor sector continued as demand for smartphones recovered slowly,” Samsung said in a text message to reporters after releasing the guidance. “Improvement in foundry operations was insufficient as well. In memory, performance improved significantly from the previous quarter as we dealt with rising demand for advanced products.”
As per the stats, the South Korean tech giant operating profit likely fell 35% in the fourth quarter of 2023 from the same period the year.
Meanwhile, a significant improvement from the third quarter with a boost from memory chip demand indicates that 2024 will be better.
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