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Samsung Electronics Q1 operating profit fell to the 5th place

The impact of the decline in demand for consumer electronics products on Samsung Electronics, South Korea’s largest memory chip manufacturer, is still continuing. Some analysts predict that the shipments of NAND flash memory and DRAM will both decline by more than 10% in the first quarter of this year. , Samsung Electronics’ chip business will also suffer a loss as a result, and lead to an operating loss of 4.1 trillion won in its equipment solution sector.

Samsung

Although the chip business is only one of the many businesses under Samsung Electronics, and the equipment solution department is only one department under Samsung Electronics, since the chip and the equipment solution department are an important source of profit for Samsung Electronics, losses are bound to occur. Affecting the overall profit of Samsung Electronics.

The latest reports from foreign media show that in the context of the continued deterioration of the semiconductor industry, some analysts have given pessimistic expectations. It is expected that Samsung Electronics, which has ranked first among Korean companies for a long time in operating profit, will fall to number 5.

According to reports, Samsung Electronics’ operating profit in the first quarter of this year is expected to fall by 88% year-on-year to 1.64 trillion won, or about 1.26 billion U.S. dollars.

As previously expected by analysts, Samsung Electronics’ operating profit in the first quarter is expected to decline sharply year-on-year, which is related to the poor semiconductor business. The division’s operating profit fell sharply.

The situation of another semiconductor manufacturer, SK Hynix, is not expected to be optimistic. They had an operating profit of 2.86 trillion won in the first quarter of last year, and they are expected to suffer losses in the first quarter of this year.

Unlike the decline in operating profits of semiconductor manufacturers, Korean automakers are expected to perform well in the first quarter of this year. Hyundai Motor’s operating profit in the first quarter is expected to reach 2.55 trillion won, making it the company with the highest operating profit in South Korea’s KOSPI index. The operating profit of sister brand Kia is expected to increase to 2.03 trillion won, and the ranking will jump from 10th in the same period last year to second place.

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James Lopez
James Lopezhttps://www.techgoing.com
James Lopez joined Techgoing as Senior News Editor in 2022. He's been a tech blogger since before the word was invented, and will never log off.

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