Samsung, 35% drop in operating profit in Q4 2023

Samsung Electronics announced that its operating profit for the fourth quarter 2023 will decrease by more than a third compared to the same period last year. The deterioration in estimates is linked to weak demand for consumer electronic devices. The South Korean technology group expects an operating profit of 2.8 trillion won (EUR 1.9 billion) for the period from October to December, down 35 per cent compared to the fourth quarter of 2022. Revenue is expected to fall 4.9 per cent to 67 trillion won (EUR 47 billion).