Samsung to post record revenue in 2022, but profits are declining

Samsung has announced its final quarter and fiscal year 2022 results, once again achieving record 12-month revenue – KRW 302.23 trillion (about $244 billion). This is his 8% increase compared to his 2021. However, operating profit was 43.38 trillion won, down 15% from the previous year.

The fourth quarter was an overwhelming period for Korean companies as sales fell in virtually all sectors due to weak demand from the slowing global economy.

The Mobile Experience (MX) segment experienced a 9% year-over-year revenue decline in the fourth quarter, but a 10% year-over-year increase for the full year. But profits fell across the board — down both quarter-over-quarter and year-over-year in the final quarter, and down for the full year. Samsung confirms that the mass market has contracted sharply due to “inflation and geopolitical instability.”

Demand for Galaxy smartphones was unexpectedly weak during the holiday season, but flagships remained strong relative to market expectations. Samsung expects the downward trend to continue in the first quarter of 2023, but will eventually turn around after the launch of the Galaxy S23 series. and equipped with game functions.

Samsung predicts that the next year will continue to be tough. Mass-market models will be hit hardest, but the company is trying to counteract with competitive deals across its carriers.

sauce