Today: Saturday, 18 May 2024 year

Samsung’s net profit fell nearly 40 percent in the third quarter.

Samsung’s net profit fell nearly 40 percent in the third quarter.

The net profit of South Korean electronics manufacturer Samsung Electronics in the last quarter decreased by 37.8% compared to the same period last year and amounted to 5.84 trillion won (about $4.3 billion), the company said.

The company’s revenue for the reporting period decreased by 12.2% to 67.4 trillion won ($49.9 billion). Operating profit amounted to 2.43 trillion won ($1.8 billion), down 4.5 times year on year.

The company previously forecast third-quarter revenue at 67 trillion won ($49.6 billion) and operating profit at 2.4 trillion ($1.77 billion).

Samsung predicts a recovery in demand in the smartphone market next year as consumer sentiment stabilizes, and the premium segment is also expected to continue.


Samsung Electronics shares are down 0.3% on the Seoul Stock Exchange.


Samsung Electronics is an international manufacturer of electronics: semiconductors, telecommunications equipment, memory chips, liquid crystal displays, mobile phones and monitors. The company’s headquarters is located in Seoul.