Samsung Expects 35% Plunge in Fourth-Quarter Profit
TL;DR Summary
Samsung Electronics expects a 35% drop in fourth-quarter operating profit, falling short of expectations due to a rebound in semiconductor prices. The company anticipates an operating profit of 2.8 trillion South Korean won, down from 4.31 trillion won a year ago, with revenue likely falling 4.9% to 67 trillion won. The demand for AI is expected to drive a recovery in the semiconductor market in 2024, with memory chip prices already starting to increase due to supply control.
Topics:business#businesstechnology#fourth-quarter-profit#market-recovery#memory-chips#samsung#semiconductor
- Samsung warns fourth-quarter profit could plunge 35%, misses expectations CNBC
- Samsung Electronics Forecasts Weaker Fourth-Quarter Operating Profit The Wall Street Journal
- Samsung Elec Flags 35% Drop in Q4 Profit as Memory Chip Prices Rebound U.S News & World Report Money
- Samsung Profit Tumbles 35% as Chip Weakness Persists Yahoo Finance
- Samsung Electronics expects profit to plunge again in fourth quarter MarketWatch
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