Samsung announced preliminary fiscal results for the second quarter of 2023, revealing a worrying decline in sales and operating profit. These are still not definitive data, but the trend is confirmed: as happened in the previous quarter, also in the months April-May-June the Korean company has strongly suffered on the global market. Analysts believe that the fault lies mainly with the poor performance of the semiconductor division.
Sales: $46 billion
Operating profit: $4.6 billion
Compared to Q1 2023:
Sales: -5.9%
Operating profit: -6.3%
Compared to Q2 2022:
Sales: -22.3%
Operating profit: -95.7%.
More than the change compared to the previous quarter, the change compared to Q2 last year is worrying. Total sales fell by 22.3%, operating profit even close to -96%. Analysts agree in attributing the responsibility for this situation to the semiconductor and memory market: the company has been suffering in this regard for some time, forecasts remain negative for the rest of the year. For the quarter, the Device Solutions division is expected to lose $30.6 billion.
Sales of smartphones are much better with the Galaxy S23 range that has been appreciated by the public, now we will try to understand how the market will welcome the new range of foldable Galaxy Z Fold 5 and Galaxy Z Flip 5 arriving next July 26.
