South Korean company Samsung Electronics said its operating profit in the fourth quarter of 2022 (October-December) fell 69% compared to the same period of 2021, according to preliminary data. Information about this press service of the company published on your site
Operating profit for the reporting period of this year was 4.3 trillion won ($3.4 billion) and 13.8 trillion won ($10.8 billion) in October-December 2021. At the same time, the figure for the third quarter (July-September) of 2022 was 10.8 trillion won ($8.5 billion).
“Amid continued uncertainty in external business conditions, chip sales have plummeted due to lower demand from customers – server operators, data centers, mobile phone manufacturers,” the company said.
Yonhap said Samsung’s operating profit fell below 5 trillion won ($3.9 billion) this quarter for the first time since 2014. By the end of 2022, the figure will drop 16% to 43 trillion won ($33.8 billion), as analysts predict.
On the eve of the American magazine Forbes knowledgeablefive billionaires lost a record amount of money in 2022. The longest – a record $125 billion – was lost by Elon Musk, Tesla’s chairman and SpaceX chief engineer.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.