Posted 1/31/2024, 11:43:52 AM
Samsung Posts Weakest Earnings in Over a Decade Despite $194B Revenue
- Samsung reported $194B in revenue and $4.9B in operating profit for 2023, its weakest earnings in over a decade
- The semiconductor division incurred $1.63B in operating losses in Q4 2023, its first annual loss since 2008
- The mobile division saw lower smartphone sales and profit quarter-over-quarter
- For 2024, Samsung aims to improve profits with high value-added products like AI components
- Samsung has high hopes for the Galaxy S24 series and its AI capabilities to drive mobile growth