Saturday, April 1, 2023

Profit from Samsung’s Memory Chip Business Dropped by 90%

By ET Bureau - January 31, 2023 1 Mins Read

Profit from Samsung's Memory Chip Business Dropped by 90%

Samsung Electronics Co. Ltd. experienced a sharp decline in memory chip demand as a result of consumers purchasing fewer electronic devices, which led to a collapse in the company’s quarterly profit.

The South Korean company recently released its fourth-quarter earnings results, which showed that the profit from its semiconductor business fell by an astounding 90%, roughly USD 220 million, for the three months ended December 31. Samsung claimed that the decline was brought on by its largest clients clearing out stockpiles, which means that very few people are currently purchasing new chips.

Most of Samsung’s revenue and profit come from its memory chip business, so the decline greatly affected its bottom line. According to the business, total revenue for the quarter was 70.46 trillion won, a 9% decrease from last year’s period.

Read More: Profit from Samsung’s memory chip business falls by a stunning 90% 

Check Out the New Enterprisetalk Podcast. For more such updates follow us on Google News Enterprisetalk News.


ET Bureau

The Enterprise talk Bureau has five well-trained writers and journalists, well versed in B2B enterprise technology industry, and constantly in touch with industry leaders for the latest trends, opinions, and other inputs- to bring you the best and latest in the domain.

Subscribe To Newsletter

*By clicking on the Submit button, you are agreeing with the Privacy Policy with Enterprise Talks.*