Samsung's Chip Sales Woes Lead to 15-Year Profit Plunge

Samsung Electronics forecasts an 84.9% drop in operating profit for last year due to a downturn in the semiconductor industry, with an expected operating profit of 6.5 trillion won, the lowest since 2008. The company's annual sales figure is projected to be 258.2 trillion won, down 14.6% from the previous year. The memory chip business is estimated to have generated 15 trillion won of operating losses in 2023, but is expected to rebound in 2024. The final earnings report is expected to be announced by the end of the month.