Samsung semiconductor biz lost 4.58 trillion won in Q1

 

 

 

By Steve Yoon

 

Samsung Electronics Co. reported on Thursday a deficit of 4.58 trillion won in its semiconductor business alone in the January-March period. Its previous year's profit was 8.45 trillon won. It is the worst quarterly profit in 14 years since the first quarter of 2009, when the world was emerging from the 2008 financial crisis.

 

The world's largest smartphone maker reported operating profit of 640.2 billion won (US$478 million) during the period. Sales fell 18 percent to 63.75 trillion won in line with its forecast and below the analyst expectation of 64.2 trillion won.

 

The figure exceeded the preliminary 600 billion won published by the company. Earlier this month, Samsung Electronics was expected to suffer an operating loss of as much as 1.28 trillion won (US$961). 

 

Samsung Display Corporation (SDC), which oversees its chip business, saw earnings in the mobile panel business decline quarter-on-quarter amid a market contraction, while the large panel business slightly narrowed its losses.

 

Its Device eXperience(DX) Division’s results improved on the back of strong sales of the premium Galaxy S23 series as well as an enhanced sales mix focusing on premium TVs.

 

Samsung said Korean won's strength against the US dollar, euro and most major emerging currencies resulted in a negative impact of approximately 700 billion won on company-wide operating profit, mostly in the component business.

 

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Samsung semiconductor biz lost 4.58 trillion won in Q1 (sankyungtoday.com)

Samsung semiconductor biz lost 4.58 trillion won in Q1