The slump comes as the global economic
slowdown hits memory chip prices and demand
for devices
Samsung Electronics is projected and earning shock. And is operating profits for the fourth quarter of 2022 or 06 spitting sales to take a hit, are eating and explains what's behind a poor figures. Samsung Electronics, expect an earnings shock for the fourth quarter of 2022.
The company on Friday, reported estimated fourth quarter, operating profits of four point three trillion won or roughly 3.3 billion u.s. dollars at the current rate. That's down about 69 percent compared to the same period a year earlier. And it's the first time in eight years that the tech giant has recorded quarterly, operating profits below five trillion won in terms of Q for sales. It ejected an audio or decrease of 8.5 8% amounting to 70 trillion won or a little over fifty five billion dollars analysts are linking this earnings shock to the global economic slowdown admit inflation and soaring interest rates.
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While economic uncertainties continue consumer, demand for memory chips, and smartphones is dropping. In fact as more companies tighten their purse, strings demand for memory chips. As plunging experts are even forecasting that the price of chips will eventually All as stocks are piling up. Individual consumers are also hesitant about buying smartphones and Home Appliances to a sharp fall in the one dollar exchange rate is also seen as one of the reasons for the earnings shock. Meanwhile the company did not reveal specific profits by sector but experts expect a sluggish performance for semiconductors as behind. This Result, One investment Securities firm forecasted operating profits for semiconductors in Q4 to come in, at one point, 1 billion dollars. There's about 70 percent down from the previous quarter. Experts also predict the downward trend for Samsung's operating profits to remain throughout the second quarter of this year, as there are no signs of demand recovery for semiconductors yet ETA.
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