business, earnings, samsung dx, samsung electronics, samsung foundry, samsung mx, samsung networks, samsung semiconductor

Samsung Electronics announced its Q3 2022 preliminary earnings guidance today. The South Korean firm expects its consolidated revenue to be around KRW 76 trillion (around $) and its operating profit to be approximately KRW 10.8 trillion (around $). Although the company’s revenue has increased by 2.73%, its operating profit has declined by 31.7% year-over-year.

This is the company’s first profit decline over the past three years. According to analysts, Samsung’s profit decline is due to a drop in demand for memory chips. Due to the current economic downturn, server clients reportedly readjusted their inventory and spending conservatively. Moreover, the prices of DRAM and NAND chips have steadily declined since the start of this year as the chip shortage problem started waning.

Low memory chip sales and prices have affected Samsung the most in Q3 2022

business, earnings, samsung dx, samsung electronics, samsung foundry, samsung mx, samsung networks, samsung semiconductor

During the COVID-19 pandemic, consumers spent a lot on smartphones, tablets, laptops, PCs, gaming consoles, and home appliances. However, that spending decreased as businesses and schools opened. Now, the demand for TVs and other home appliances has decreased, which has affected Samsung DX. High inflation, high interest rates, and geopolitical tensions also contributed to lower sales.

Samsung MX, the smartphone division, did well with its new foldable smartphones and saw quarter-over-quarter growth. The sales of the Galaxy Z Flip 3, Galaxy Z Flip 4, Galaxy Z Fold 3, and Galaxy Z Fold 4 have been pretty good, according to various analysts, The company set a sales target of 15 million for its foldable phones, but it might fall short of that target.

Samsung’s display manufacturing arm, Samsung Display, saw growth as well, thanks to impressive sales of OLED panels for Apple’s iPhone 14 series. The South Korean firm’s chip manufacturing business, Samsung Foundry, also saw growth in its business. System LSI, Samsung’s chip design and development arm, saw lower demand as the Exynos 2200 wasn’t seen in as many Galaxy S23 series as it did in previous-generation Galaxy flagship phones.

The South Korean tech giant will release its actual numbers for Q3 2022 by the end of this month, and that’s when we will get some official information on the company’s outlook for the next quarter and the next year.

NEWS RELATED

The most innovative TV tech of 2022

The world of TV technology has always been pretty cutthroat as the race for bigger, brighter, clearer, darker, and more powerful pushes ever forward to blow our minds with every pixel. The past decade alone has seen many innovations in televisions: 4K and 8K resolution, OLED, QLED, mini-LED, micro-LED, High ...

View more: The most innovative TV tech of 2022

Samsung Wonderland is still the best holiday wallpaper generator

Samsung released Wonderland a couple of years ago as a Good Lock module for users who want to generate custom wallpapers. If you ask me, Wonderland is still one of the most fun custom wallpaper solutions, especially if you’re in a festive mood now that the holiday season is ...

View more: Samsung Wonderland is still the best holiday wallpaper generator

Samsung to make fingerprint login 2.5bn more secure in 2025

How do you increase the security of fingerprint-based biometrics? Well, how about instead of using a small scanner that can read one fingerprint at a time, you make the entire OLED screen capable of scanning multiple fingerprints simultaneously? It may sound like something out of science fiction, but Samsung ...

View more: Samsung to make fingerprint login 2.5bn more secure in 2025

Daily Deal: Save up to 26% on the Galaxy Buds 2 wireless earbuds

Black Friday is behind us, but there’s always a Samsung deal to be had, especially now as we approach the end of the year. And if you’re in the market for a new pair of earbuds, the Galaxy Buds 2 are now up to 26% cheaper at Amazon USA. ...

View more: Daily Deal: Save up to 26% on the Galaxy Buds 2 wireless earbuds

[Demo] Samsung Notes update adds a new feature to selection tool

Samsung Notes has received a new update. Although the update is small and adds only one new feature, many Galaxy device owners may find it quite handy. It’s an addition to the selection tool that should simplify things and speed up productivity. The popular note-taking app from Samsung has ...

View more: [Demo] Samsung Notes update adds a new feature to selection tool

Samsung devices vulnerable to malware apps due to security leak

Millions of Android devices, including Samsung, appear to have been left vulnerable by a major security leak. This isn’t as much a vulnerability as it is an actual leak of a critical component used by device manufacturers who rely on Android OS. More specifically, Android OEMs, including LG, Samsung, ...

View more: Samsung devices vulnerable to malware apps due to security leak

Galaxy S21 gets November 2022 security update in the US

Early last month, the Galaxy S21 series got the November 2022 security update as a part of the stable Android 13 update. Now, the same update is rolling out to the carrier-locked units of the Galaxy S21 series in the US. The new security update for the carrier-locked units ...

View more: Galaxy S21 gets November 2022 security update in the US

Google is bringing Reading Mode and more features to Android phones, tablets

Google has announced a bunch of new features for Android smartphones and tablets. It also unveiled a few features for Wear OS-based smartwatches. All these features will soon come to Samsung’s Galaxy smartphones, tablets, and smartwatches. Some of these features include a system-wide Reading Mode, improved Google Cast, sharing ...

View more: Google is bringing Reading Mode and more features to Android phones, tablets

Galaxy Watch 4, Watch 5 will get new Tiles, improved Google Keep app, and more

Samsung brings Android 13 to a not-too-popular rugged Galaxy phone

The Google Play Store will soon pick up two cool features

Carrier-locked Galaxy Tab S8 gets Android 13 update in the US

Samsung, LG, Mediatek certificates compromised to sign Android malware

Samsung Galaxy Z Flip 5 to Come with Some Significant Changes

Indian Galaxy S21 FE users can rejoice as Android 13 update is now available!

Galaxy S20 Ultra holds up well in 2022, but it needed more future-proofing

Compromised OEM Android platform certificates used to sign malware

Global NAND flash output value to continue slide in 4Q22

Galaxy A51 5G is getting the Android 13 One UI 5 update in the US

Samsung Galaxy A04e key details tipped ahead of India launch

OTHER NEWS

Breaking thailand news, thai news, thailand news Verified News Story Network