Samsung has not had such a disastrous quarter for 14 years.

The drop in profits is almost 96%

As analysts predicted , the second quarter of fiscal 2023 for Samsung Electronics turned out to be extremely unsuccessful. The company has not yet published a financial report, but shared its own forecast. 

Samsung has not had such a disastrous quarter for 14 years.

According to him, the operating profit of the company will be only about 459 million dollars. This equates to a 95.74% drop and is Samsung’s worst quarter in 14 years. Sales fell not so catastrophically: by 22.28%, to $45.9 billion.  

There are no details yet, but the same analysts argued that the main problem now is the fall in demand for semiconductor products.