


Samsung Electronics' third-quarter 2023 profit drops 78%, but chip losses narrow
News from this site on October 31, Samsung Electronics announced today its third quarter results for 2023. Third quarter profits fell 78% year-on-year, but the hard-hit memory chip market began to show signs of recovery. , the company still achieved its best performance this year.
Samsung Electronics’ consolidated total revenue in the third quarter was 67.40 trillion won (note on this site: currently about 365.308 billion yuan), a 12% month-on-month increase, mainly due to new smartphones launch and increased sales of high-end display products.
Operating profit increased sequentially to 2.43 trillion won (currently approximately 13.171 billion yuan) due to strong sales of mobile flagship models and strong demand for displays, Device Solutions (DS) segment Losses narrowed .
According to Samsung, losses in the memory business continued to decrease due to increases in sales and average selling prices of high value-added products. Affected by the delay in the recovery of demand for major applications, System Semiconductor's profits have been affected to a certain extent. However, the foundry business has obtained new backlog orders due to design breakthroughs, setting a new quarterly high
Mobile phone panel business was affected by major customers Affected by the release of new flagship models, profits increased significantly, while losses in the large-screen business narrowed this quarter.
Harman’s quarterly operating profit hit a record high, driven by an overall increase in orders from automotive customers and consumer audio products such as portable speakers, as well as higher sales of car audio products.
In the third quarter, Samsung Electronics’ capital expenditures reached 11.4 trillion won (currently approximately 61.788 billion yuan), of which the equipment solutions department spent 10.2 trillion won and Samsung Display spent 0.7 trillion won. The cumulative total for the January-September period was 36.7 trillion won, of which 33.4 trillion won was allocated to the DS unit and 1.6 trillion won to SDC. Full-year capital expenditures for 2023 are expected to be approximately KRW 53.7 trillion, including KRW 47.5 trillion allocated to the DS unit and KRW 3.1 trillion allocated to SDC.
Looking ahead to 2024, Samsung said that although macroeconomic uncertainty may persist, the memory market is expected to recover. Samsung will work hard to expand sales of advanced node products and meet the demand for high-performance, high-bandwidth products by increasing sales of HBM3 and HBM3E to maintain industry-leading HBM production capabilities
For foundry business,The second-generation 3nm Gate All Around (GAA) process will begin mass production and will begin operations at its new facility in Tyler, Texas. Additionally, in the advanced packaging business, production will start based on multiple orders received from domestic and international HPC customers, including orders for the company's turnkey services combining logic, HBM and 2.5D advanced packaging technologies.
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