South Korean electronics manufacturer Samsung Electronics published a financial report on Friday predicting 63 trillion Korean won ($47 billion) in revenue in the first quarter of 2023, which is 19% less compared to the same period in 2022
MOSCOW (Pakistan Point News / Sputnik - 07th April, 2023) South Korean electronics manufacturer Samsung Electronics published a financial report on Friday predicting 63 trillion Korean won ($47 billion) in revenue in the first quarter of 2023, which is 19% less compared to the same period in 2022.
In quarterly terms, a 10.6% revenue drop is predicted. Operating profit for the first quarter is estimated at 0.6 trillion Korean won, which is 28.2 times lower than the 14.12 trillion Korean won in the first quarter of 2022 and 7.2 times lower than the 4.31 trillion Korean won in the previous quarter.
Samsung has also announced cutting of memory chip production by a "meaningful level," according to the reports citing a follow-up company statement.
Samsung Electronics is an international electronics manufacturer producing semiconductors, telecommunication hardware, memory chips, LCD displays, mobile phones and monitors. The company is headquartered in Seoul.
