{"id":504142,"date":"2022-10-27T09:58:45","date_gmt":"2022-10-27T06:58:45","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/samsung-electronics-says-q3-operating-profit-down-31-on-year\/"},"modified":"2022-10-27T09:58:45","modified_gmt":"2022-10-27T06:58:45","slug":"samsung-electronics-says-q3-operating-profit-down-31-on-year","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/samsung-electronics-says-q3-operating-profit-down-31-on-year\/","title":{"rendered":"#Samsung Electronics says Q3 operating profit down 31% on-year"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4e1f455fe09\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4e1f455fe09\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/samsung-electronics-says-q3-operating-profit-down-31-on-year\/#%E2%80%9CSamsung_Electronics_says_Q3_operating_profit_down_31_on-year%E2%80%9D\" >&#8220;Samsung Electronics says Q3 operating profit down 31% on-year&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CSamsung_Electronics_says_Q3_operating_profit_down_31_on-year%E2%80%9D\"><\/span>&#8220;Samsung Electronics says Q3 operating profit down 31% on-year&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<div class=\"article-gallery lightGallery\">\n<div data-thumb=\"https:\/\/scx1.b-cdn.net\/csz\/news\/tmb\/2022\/samsung-electronics-re.jpg\" data-src=\"https:\/\/scx2.b-cdn.net\/gfx\/news\/2022\/samsung-electronics-re.jpg\" data-sub-html=\"Samsung Electronics reported its first year-on-year decline in operating profit in three years on Thursday.\">\n<figure class=\"article-img\">\n            <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/scx1.b-cdn.net\/csz\/news\/800a\/2022\/samsung-electronics-re.jpg\" alt=\"Samsung Electronics reported its first year-on-year decline in operating profit in three years on Thursday\" title=\"Samsung Electronics reported its first year-on-year decline in operating profit in three years on Thursday.\" width=\"800\" height=\"530\"\/><figcaption class=\"text-darken text-low-up text-truncate-js text-truncate mt-3\">\n                Samsung Electronics reported its first year-on-year decline in operating profit in three years on Thursday.<br \/>\n            <\/figcaption><\/figure>\n<\/p><\/div>\n<\/div>\n<p>South Korean tech giant Samsung Electronics on Thursday said its third-quarter operating profits were down 31.39 percent year on year after a global economic downturn hit demand for consumer electronics.<\/p>\n<p>                                                                                Earnings in its crucial memory chips division dropped, the company said in a statement, adding that &#8220;demand for consumer products remained weak&#8221;.<\/p>\n<p>Operating profit for July to September 2022 fell to 10 trillion won ($7 billion), down from 15.8 trillion won for the same period last year, the company said.<\/p>\n<p>The results were released the same day the company announced de facto leader Lee Jae-yong\u2014who received a presidential pardon in August over a fraud conviction\u2014would be promoted to chairman of Samsung Electronics.<\/p>\n<p>&#8220;Our survival depends on future technologies,&#8221; Lee said in a message posted on the company&#8217;s internal forum after his promotion, Yonhap reported. &#8220;We can turn this crisis into opportunity.&#8221;<\/p>\n<p>The third-quarter results are the first year-on-year decline in profit in nearly three years for Samsung Electronics, the world&#8217;s biggest smartphone maker.<\/p>\n<p>But the company said it had seen an increase in sales, which were up by 3.79 percent from the same period last year to 76 trillion won.<\/p>\n<p>The world&#8217;s biggest memory-chip maker is the flagship subsidiary of the giant Samsung group, by far the largest of the family-controlled empires known as chaebols that dominate business in South Korea, Asia&#8217;s fourth-largest economy.<\/p>\n<p>The conglomerate is crucial to the country&#8217;s economic health\u2014its overall turnover is equivalent to a fifth of the national gross domestic product.<\/p>\n<p>Until the second quarter of this year, Samsung, along with other tech companies, significantly benefited from strong demand for electronic devices\u2014as well as chips that power them\u2014during the pandemic.<\/p>\n<p>But the global economy is now facing multiple challenges, including soaring inflation, rising interest rates and the growing threat of a broad debt crisis.<\/p>\n<p>The situation has been exacerbated by Russia&#8217;s invasion of Ukraine\u2014which has spurred a surge in energy prices and pushed global food prices up\u2014along with China&#8217;s adherence to a strict zero-COVID policy.<\/p>\n<p>&#8220;In 2023, demand is expected to recover to some extent, but macroeconomic uncertainties are likely to persist,&#8221; Samsung Electronics said.<\/p>\n<p>&#8220;In the Memory Business, after a dampened first half, demand is expected to rebound centering on servers as data center installations resume,&#8221; it added.<\/p>\n<p>Analyst Park Sung-soon of Cape Investment &amp; Securities told AFP he did not expect consumer demand for tech products to recover until the second half of 2023. <\/p>\n<p>&#8220;So the focus for Samsung will be adjusting its supply rather than relying on demand recovering anytime soon,&#8221; he said.<\/p>\n<p>Samsung also said it had benefited from the strength of the US dollar against the Korean won, &#8220;resulting in an <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately 1.0 trillion won company-wide gain in operating profit compared to the previous quarter&#8221;.<\/p>\n<p><b>Geopolitics<\/b><\/p>\n<p>The vast majority of the world&#8217;s most advanced microchips are made by just two companies\u2014Samsung and Taiwan&#8217;s TSMC\u2014both of which are running at full capacity to alleviate a global shortage.<\/p>\n<p>The supply of memory chips has become an issue of global geopolitical significance recently, with leading governments scrambling to secure supplies.<\/p>\n<p>That was demonstrated in May when US President Joe Biden kicked off a South Korea tour by visiting Samsung&#8217;s sprawling Pyeongtaek chip plant.<\/p>\n<p>Russia&#8217;s invasion of Ukraine has &#8220;further spotlighted the need to secure our critical supply chains&#8221;, Biden said at the plant, underscoring the importance of bolstering <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> partnerships among &#8220;close partners who do share our values&#8221;.<\/p>\n<p>Samsung employs about 20,000 people in the United States and work is under way to build a new semiconductor plant in Texas, scheduled to open in 2024.<\/p>\n<p>The US also recently introduced new measures to limit China&#8217;s access to high-end semiconductors with military uses, a move that has wiped billions from chip companies&#8217; valuations worldwide.\n                                                                                                                        <\/p>\n<hr\/>\n<div class=\"article-main__explore my-4 d-print-none\">\n<p>                                            Samsung Electronics forecasts 31.7% fall in Q3 profit\n                                        <\/p><\/div>\n<hr class=\"mb-4\"\/>\n<p class=\"article-main__note mt-4\">\n                                                \u00a9 2022 AFP<\/p>\n<p>                                        <!-- print only --><\/p>\n<div class=\"d-none d-print-block\">\n<p>                                                 <strong>Citation<\/strong>:<br \/>\n                                                 Samsung Electronics says Q3 operating profit down 31% on-year (2022, October 27)<br \/>\n                                                 retrieved 27 October 2022<br \/>\n                                                 from https:\/\/techxplore.com\/<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>\/2022-10-samsung-electronics-q3-profit-on-year.html<\/p>\n<p>                                            This document is subject to copyright. 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South Korean tech giant Samsung Electronics on Thursday said its third-quarter operating profits were down 31.39 percent year on year after a global economic downturn hit demand for consumer electronics. Earnings&#8230;<\/p>\n","protected":false},"author":1,"featured_media":504143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/scx2.b-cdn.net\/gfx\/news\/2022\/samsung-electronics-re.jpg","fifu_image_alt":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-504142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sciencee"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/504142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=504142"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/504142\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/504143"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=504142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=504142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=504142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}