Epic deal, order your S24/S24+ or Galaxy S24 Ultra! Aramid Fibre goodness - Get 15% discount on Thinborne cases!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

Notifications
    News for you

    Samsung may post a nearly 80% operating profit loss in Q3

    Business
    By 

    Last updated: October 10th, 2023 at 13:56 UTC+02:00

    In anticipation of Samsung Electronics publishing its Q3 earnings guidance later this week, market watchers expect the company to post an operating profit loss of nearly 80% on-year. Samsung's biggest loss is attributed to its semiconductor business, which continues to experience difficulties in the current market climate.

    Analysts polled by the London Stock Exchange Group (LSEG) say Samsung Electronics' operating profit for Q3 2023 will be around 2.3 trillion won ($1.7 billion), with revenues of around 67.8 trillion won ($50 billion).

    These figures represent a 78.7% yearly decline in operating profit and an 11.6% decline in revenue (via CNBC). Market watchers estimate that Samsung's semiconductor business may have experienced the biggest losses in Q3. Samsung Semiconductor is likely to post a quarterly loss of more than 3 trillion won ($2.2 billion).

    Story continues after the video

    Samsung may record growth in other areas

    Samsung Semiconductor may have experienced this Q3 decline as the memory market hasn't recovered as much as the company had hoped. The global semiconductor market continues to be affected by low demand and oversupply.

    Last quarter, Samsung announced a 95% on-year operating profit decline, likewise mostly due to weak performance recorded by the semiconductor arm.

    Despite these losses, market watchers estimate that Samsung's display and mobile units will post quarter-on-quarter growth in Q3 2023.

    Samsung Display may see a rise in revenue thanks to its profitable business with Apple. The company supplied the latest iPhone 15 series with OLED panels. The iPhone lineup consists of four models, and Samsung Display is reportedly the only iPhone 15 panel supplier, as BOE failed quality tests.

    In addition, analysts believe that Samsung's mobile business (Samsung MX) should see improved margins thanks to the foldable phones it unveiled in July, i.e., the Galaxy Z Fold 5 and the Galaxy Z Flip 5. The Z Fold and Z Flip lineups remain the most popular foldable phones worldwide, and slowly but surely, the consumer market is warming up to this new category of premium devices.

    BusinessGeneral Samsung DisplaySamsung ElectronicsSamsung MXSamsung Semiconductor Buy now!

    You might also like

    Samsung’s foldable OLED panel is MIL-STD 810G-compliant for durability

    Samsung’s foldable OLED panel is MIL-STD 810G-compliant for durability

    Samsung Display, the display manufacturing unit of Samsung Electronics, has announced that its 7-inch foldable OLED panel has completed the MIL-STD-810G tests. This compliance with a series of tests developed by the US Department of Defense proves that the new OLED panel from Samsung is extremely durable. Samsung's latest-generation OLED panels are extremely durable The […]

    • By Asif Iqbal Shaik
    • 14 hours ago
    Samsung cuts all bonuses for chip division employees after a rough year

    Samsung cuts all bonuses for chip division employees after a rough year

    Samsung has a tradition of offering year-end bonuses to employees across the entire organization to thank them for a job well done. When times have been good for the company, it has given significant incentives to employees to boost their morale. The past year hasn't been great for the company financially as it suffered a […]

    • By Adnan Farooqui
    • 17 hours ago
    Samsung’s foldable displays failed Apple’s durability tests, report says

    Samsung’s foldable displays failed Apple’s durability tests, report says

    While Samsung and Huawei are said to be preparing to explore additional foldable phone designs later this year, Apple has reportedly left the game due to concerns regarding the durability of foldable screens. A new report via Naver says Apple has been experimenting with foldable phones from other brands, including Samsung. The Cupertino giant has […]

    • By Mihai Matei
    • 3 days ago
    Samsung Display is one step closer to Gen 8 OLED production

    Samsung Display is one step closer to Gen 8 OLED production

    Samsung Display is one step closer to manufacturing Gen 8 OLED panels for PCs and tablets. A new report from Korea states that the tech giant has contracted companies to construct the chambers where its first Gen 8 OLED deposition machine will start producing panels next month. According to The Elec, these chambers at Samsung […]

    • By Mihai Matei
    • 4 days ago
    Samsung opens first Premium Experience Store in Chandigarh, India

    Samsung opens first Premium Experience Store in Chandigarh, India

    Samsung has just opened the doors to its first Premium Experience Store in the state of Punjab, India. The new store is located at the Nexus Elante Mall in Chandigarh, and Samsung has prepared special offers for the inauguration. The Korean tech giant says the Chandigarh Premium Experience Store is designed to be “a one-stop […]

    • By Mihai Matei
    • 5 days ago
    Samsung created a separate team for XR headset development

    Samsung created a separate team for XR headset development

    During the launch of the Galaxy S23, Samsung revealed that it is making an XR product in collaboration with Google and Qualcomm. While the device or its release date wasn't revealed, it was rumored that Samsung could launch the XR headset in late 2023, but that didn't happen. More information about the development of the […]

    • By Asif Iqbal Shaik
    • 5 days ago