Samsung's profits decreased in 2022
South Korean tech giant has shared their profit for 2022. Samsung posted record revenue but decreasing profits.
Things have not been going quite well for smart phone market and South Korean tech giant Samsung has also suffered from it. When Samsung announced its financial results for the final quarter of 2022 and the entire fiscal year, it once again achieved record revenue for the entire year, which totaled KRW 302.23 trillion, or approximately $244 billion. This represents an increase of 8% over 2021; However, operating profit was KRW 43.38 trillion, which is a 15% decrease from the previous year.
Samsung's profits decreased in 2022
The Korean company had a disappointing fourth quarter as a result of weak demand brought on by the slowdown in the global economy, which led to declines in sales in virtually every division.
Galaxy smartphones saw unexpectedly low demand during the holiday quarter, but flagship models still performed well in comparison to market projections. Samsung anticipates that the downward trend will continue in the first quarter of 2023, but things will eventually improve following the release of the Galaxy S23 series. The tech market has been suffering ever since coronavirus happened due to chip shortages and global problems.
Controversy in Tasmania: Police deny Apple's Crash Detection aided quick arrival at accident siteNews & Culture
