The repercussions of the global economic crisis were also reflected in the pockets of major technology giants. Some companies are on the edge of the cliff, while others are trying to heal the wounds of the last few months. The situation is not much different for South Korean technology giant Samsung. According to the published official report, Samsung is going through difficult times, but there are signs that demands are increasing, and this raises hopes.Samsung expects 78 percent profit decline
In the news we shared the other day, we stated that industry experts expected an 80 percent profit decrease from Samsung in the July-September quarter. In its report shared today, Samsung announced that it expects a 78 percent profit decrease. Therefore, the company seems to have achieved a performance above expectations. And this clearly points to an increase in demand for chips.
According to the report, Samsung Electronic’s total revenue could be around $50.07 billion and operating profit could be around $1.79 billion. Frankly, these values mean a 78 percent decrease for Samsung compared to the previous quarter, but the increase on a quarterly basis is quite high. The company had made a profit of only $456 million in the previous quarter, so there is a 400 percent increase.
Apart from rising demands, Samsung’s greater focus on high-end chips such as DRAM can be seen as the main reason for the recovery. The drastic decline is expected to slow down in the coming quarters due to the recovery in semiconductor chip demand. Therefore, although the situation in the chip business is not very good for Samsung, the decline in its prices is easing, which curbs the decline of the technology giant.
Earlier this year, Samsung announced its worst quarterly profit in the last 14 years, since 2009. On the other hand, the mobile side is expected to be strong in the third quarter, especially with the impact of foldable premium phones. Samsung will announce its detailed report for this quarter on October 31.
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