Samsung had a not-so-good financial start in the 1st quarter

Three months or we can say a quarter, have passed of this year 2023. It’s about the time of the arrival of Quarter 1st’s report that how well the company has performed. As for Samsung, it didn’t seems that they had a strong financial start; in other words, it is again a bad quarter. As per the reports, the South Korean firm’s quarterly operating profit drastically fell offloads. Let’s take a look at this complete report. 

As per Samsung’s official post, in the Q1 of 2023, the Korean firm’s consolidated sales were approximately 63 trillion KRW which is followed by nearly 0.6 trillion KRW’s operating profit. However, this profit is way too behind then 2022’s 1st Quarter operating profit, which was 14.12 KRW with 77.78 trillion KRW’s consolidated sales. In other words, the operating profit fell by 96 percent in the Quarter 1st of 2023 as compared to 1Q2022. 

It is possible that the fall in profit is due to the decline in semiconductor demand, which has occurred since covid. It is said that the loss is so drastic that not even the Galaxy S23’s robust sales can neutralize it and overcome a global plummet in chip demand. However, it is not the final financial statement of Samsung. It is expected that we will get to see the final financial statement in a few weeks, which will surely unwrap some more things.