Be quick, CYBER MONDAY deals! Galaxy Watch 7, Samsung TV, Galaxy Buds 3 Pro and Galaxy S24 Ultra.

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

News For You
News For You
Notifications

Samsung won’t cut investments despite massive profit drop in Q4 2022

Business
By 

Last updated: January 31st, 2023 at 11:01 UTC+01:00

Earlier today, Samsung announced its earnings for Q4 2022 and FY 2022, which revealed a profit nosedive of 69% compared to Q4 2021. Its semiconductor chip and smartphone divisions are usually the company's cash cows, but even those segments performed poorly during the fourth quarter of 2022. However, the South Korean firm has no plans to cut back on investments.

During its earnings call, Samsung reaffirmed that it wouldn't reduce its investments despite a slump in demand for semiconductor chips, smartphones, TVs, and other mobile devices. It said. “on the flip side, this is a great opportunity for us to prepare for the future.” The company will continue to make infrastructure investments necessary to meet mid to long-term demand. The company plans to invest in clean rooms for its semiconductor chip manufacturing factories.

The South Korean firm said that its investments in 2023 will be similar to its 2022 numbers. A question on the company's investment plans came in regarding similar steps taken by its chip rivals Micron and SK Hynix to tackle oversupply and a sharp fall in demand for memory chips. Samsung said its total expenditure in chip research and development would rise compared to 2022. The company said it would increase its investments in chip R&D “to enhance our process technology competitiveness and stabilize our process technology early on.

Samsung reported revenue of KRW 70.46 trillion (around $57.21 billion) for Q4 2022, with an operating profit of KRW 4.31 trillion (around $3.5 billion). Its annual revenue for 2022 was KRW 302.23 trillion (around $245 billion), and its full-year profit was KRW 43.38 trillion (around $35.22 billion).

Business Samsung Electronics
Galaxy AI summarized

Scroll for more related content
News For You

You might also like

All the Cyber Week 2024 deals Samsung doesn’t want you to miss

All the Cyber Week 2024 deals Samsung doesn’t want you to miss

Samsung's Cyber Week sales event, which traditionally follows the Black Friday weekend, kicked off yesterday. For this Cyber Week, Samsung has refreshed some of its Black Friday deals and launched a bunch of new ones. The following list contains all the Samsung Cyber Week deals everyone should know about. Just a heads-up, the company says […]

  • By Mihai Matei
  • 2 hours ago
Samsung trademarks ‘Moderate Bass’ for TVs and soundbars

Samsung trademarks ‘Moderate Bass’ for TVs and soundbars

We discovered a new trademark application Samsung filed with the UK Intellectual Property Office last week. The trademark concerns something Samsung calls “Moderate Bass.” In a broad sense, this new trademark applies to TVs, soundbars, speakers, and downloadable software for controlling TVs. Whatever it is, it seems like an audio technology or a setting that […]

  • By Mihai Matei
  • 1 day ago
The ultimate Samsung Holiday Gift Guide for 2024

The ultimate Samsung Holiday Gift Guide for 2024

The end of 2024 is over the horizon, and Black Friday has kicked off the holiday shopping season. For many, the time has come to prepare gifts for family and friends or to renew themselves with some of the latest tech available. If you're looking for a bit of inspiration for Samsung gift ideas, you've […]

  • By Mihai Matei
  • 4 days ago
All the Samsung Black Friday 2024 deals you don’t want to miss

All the Samsung Black Friday 2024 deals you don’t want to miss

Black Friday is here, and Samsung has launched a bunch of fantastic deals everyone should at least check out. Some of them are really quite incredible, like that Galaxy Z Fold 6 deal that shaves $800 off the phone's price with no trade-in. But there's more good stuff on Samsung's e-shop for Black Friday, so […]

  • By Mihai Matei
  • 4 days ago
This Samsung Jet stick vacuum deal is actually awesome

This Samsung Jet stick vacuum deal is actually awesome

Samsung offers several Jet Stick cordless vacuum cleaner models, but one that we've had our eyes on for some time is the Jet 75+. It's powerful, has an extra battery, and might be the best vacuum cleaner that can double as a car vacuum. It's also relatively affordable. Speaking of which, Samsung has launched a […]

  • By Mihai Matei
  • 5 days ago
Samsung makes big changes to top leadership in hopes of growth

Samsung makes big changes to top leadership in hopes of growth

There was an expectation that Samsung would shake things up significantly in its annual personnel reshuffle that started earlier this time around. The company today announced a major leadership change as it seeks a return to growth, particularly in the lucrative semiconductor segment. The announced changes primarily focus on the semiconductor business. Samsung says that […]

  • By Adnan Farooqui
  • 6 days ago