Samsung Electronics today announced its forecasts for the fourth quarter of 2023. The technology giant expects an operating profit of 2.8 million won (about 1,949 million euros), a drop of 35.03% due to weak demand in the semiconductor sector more persistent than expected. In a statement, the entity has explained that they also assume that its sales turnover will fall by 4.9% compared to the same period of the previous year, 67 million won (51,122 million dollars).
Samsung Electronics’ operating profit in the third quarter of 2023 grew by 15.22%, although its sales shrank by 0.59% in October-December compared to the previous three months. As is usual in its results forecasts, the company did not provide its forecasts in relation to its net profit or break down more data by business branches.
Analysts predict, based on these numbers, that the company’s operating profit for the entire year 2023 will fall by 85% compared to what was achieved in 2022, leaving the figure around 6.5 trillion won (4,959 million dollars). . In the case of sales revenue, it is expected to decline by 15% to around 258 trillion won (US$196.86 billion).
slow recovery
The drastic drop in semiconductor prices, given the reduction in demand and excess inventories after the end of the pandemic, greatly affected the results of Samsung in 2023, which had to announce a significant reduction in its production last April. . of French fries.
Although a sharper recovery was expected towards the fourth quarter of the year, the data presented today by the South Korean giant debunks the best forecasts of analysts and suggests that the sector’s recovery will take longer than expected. The company will publish its results sheet for the fourth quarter of 2023 at the end of this month.
