Samsung Electronics' sales in the fourth quarter of last year decreased by 8%, profits plummeted by more than 40%, and chip profits plunged by 1/30 compared to a year ago.
According to Samsung Electronics' fourth-quarter performance disclosure, the mobile business' profit in the fourth quarter plummeted to 1.7 trillion won from 2.66 trillion won in the same period last year.
Samsung Electronics' October-December operating profit was 4.3 trillion won ($3.49 billion), the company's lowest quarterly profit in eight years.
Samsung Electronics' sales recorded 70.5 trillion won, down 8 percent in the fourth quarter.
Last year, as memory chip prices fell at a double-digit rate, Samsung's chip profits plummeted by 1/30 from 8.83 trillion won a year ago to about 270 billion won in the fourth quarter, the lowest since the first quarter of 2009 during the financial crisis.
Reuters reported that analysts expected Samsung Electronics' chip business to post losses in the first quarter of this year than in the fourth quarter of last year.
“After the US chipmaker baffled Wall Street with bleak earnings forecasts on the 27th, about $8 billion was wiped out of market value, fueling fears of a downturn in the personal computer market,” he said. We expected a stunning loss in the first quarter and our revenue forecast was $3 billion lower than expected as we struggled with slow growth in our data center business,” a Reuters report said.
Intel and Samsung have grown into the personal computer industry, and now share prices are plummeting as losses are expected to grow this year due to a glut of chips.
Intel's share price fell 9.5% on the 26th of last week.
"We stumbled, we lost share, we lost momentum. We think that has stabilized this year," Intel CEO Pat Gelsinger told investors today.
Intel's fourth-quarter revenue fell 32% to $14 billion. Originally, analysts expected revenue of $14.46 billion on average, but it fell well below that, and the stock plummeted.
Intel's profit margin fell from 58.4% in the fourth quarter of 2020 to 43.8% in the fourth quarter of 2022 and expects to fall further this year.
Research firm IDC estimates that PC shipments will decline by 16.5% to 292.3 million units in 2022, forcing chipmakers to cut production and reduce revenue projections, but Samsung has repeatedly increased production.
Samsung Electronics announced on the 31st that it recorded sales of 70,464.6 billion won and operating profit of 4,306.1 billion won on a consolidated basis in the fourth quarter of last year.
Sales decreased by 7.97% compared to the same period last year, and operating profit plunged by 68.95% due to slowing smartphone sales of MX due to the impact of falling memory prices and valuation loss on inventory assets.
Annual sales were 302.2314 trillion won and operating profit was 43.3766 trillion won. Compared to the previous year, sales increased by 8.09%, but operating profit fell by 15.99%.
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