The South Korean technology giant Samsung Electronics announced on Monday an increase in net profit of 39.5% in 2022 to 55,650 million won (41,600 million euros), thanks to a recovery in the last quarter.
The company’s sales revenue increased 8.1% to 302.2 billion won (226.1 billion euros), despite the fact that operating profit fell 16% to 43.4 billion won (32.4 billion of euros).
Suwon-based Samsung, south of Seoul, posted a 120% year-on-year increase in net profit during the last quarter of 2022, though operating profit fell 70%.
According to the financial report, the business of potato chips Samsung’s memory processor was hit particularly hard by falling sales of integrated circuits and a glut of supplies that led to lower prices.
The technology giant achieved operating profits of 202 million euros in this sector in the last three months of 2022, a drop of 96.9% compared to the previous year.
sales of the world’s largest manufacturer of potato chips by heart and mobile phones exceeded 70 billion won (about 52 billion euros) between October and December.
In mobile phones, Samsung posted sales of 26.9 billion won (20.2 billion euros) and 1.7 billion won (1.3 billion euros) in operating profit in the fourth quarter.
On January 6, Samsung announced that it expects a 69% year-over-year decline in operating profit in the fourth quarter of 2022, as well as an 8.6% decline in sales revenue.
Samsung justified the pessimism with the drop in prices potato chips memory and device demand reductiondue to the economic slowdown, and said he expected rising global inflation to reduce demand for products such as televisions and mobile phones.
The South Korean giant prospered during the first two years of the pandemic thanks to strong demand for personal computers, televisions and potato chips powering computer servers, while the virus forced millions of people to work from home.
Source: Observadora
