Samsung Electronics announced today (6th) that its consolidated operating profit for the fourth quarter of last year was 4.3 trillion won, a 69% decrease from the same period last year.
It is estimated that the company experienced an earnings shock (earnings shock) in which its operating profit plummeted by nearly 70% due to the global economic downturn and decline in demand for semiconductors.
It was 31.2% lower than the market forecast of 6,248.3 billion won compiled by Yonhap Infomax.
Compared to the previous quarter, 4Q operating profit decreased by 60.37%.
It is the first time in eight years since the third quarter of 2014 (KRW 4.06 trillion) that Samsung Electronics' quarterly operating profit fell below 5 trillion won.
Sales in the fourth quarter of last year were KRW 70 trillion, down 8.58% from the same period last year.
The sluggish performance is attributed to the disappearance of the corona special and a decrease in set (finished product) consumption and demand for semiconductors as real household income decreased in the aftermath of inflation and high interest rates.
However, Samsung Electronics posted the highest sales ever on an annual basis last year.
Samsung Electronics' annual sales in 2022 increased by 7.93% from the previous year to KRW 301.77 trillion.
This is the first time Samsung Electronics' annual sales have exceeded 300 trillion won.
Thanks to the semiconductor boom in the first half of last year, the company posted all-time performance.
Last year's annual operating profit was 43.37 trillion won, down 16% from the previous year.