Today, the Korean tech giant posted the introductory results for the fourth quarter of 2023 with the sixth straight quarter of declining operating profit. Therefore, Samsung Electronics reported a 35% fall in operating profit for the fourth quarter of 2023.
As per the details, in the October to December quarter, operating profit is likely to be 2.8 trillion won ($2.13 billion), down 35% from the same period a year ago when the firm reported an operating profit of 4.31 trillion won. Whereas, the previous quarter’s operating profit was 2.43 trillion won.
However, this decline in Samsung’s operating profit for quarter four of 2023 may reflect weak consumer demand and uncertainty over the timing of a broader tech recovery. But the 2024 could be better for the South Korean tech giant. Memory chip prices have started increasing since the start of November.
