Samsung expects operating profit to fall by almost 24 times

The company published a forecast for quarterly financial results

Samsung Electronics has published a financial outlook for the first quarter of fiscal year 2023. The company’s calculations show that its operating profit in annual terms will collapse by 96%! 

Samsung expects operating profit to fall by almost 24 times

More specifically, the company expects a profit of around $455 million, up from $10.7 billion a year earlier. Revenue will fall from 59 to 47.8 billion dollars. 

According to SamMobile, the Samsung Device Solutions division, which is responsible for the production of semiconductor products, showed a loss of $ 3 billion in the quarter, which is the first loss of this business line of Samsung in 14 years!