Samsung’s Q4 profits plummet 69 percent, hit 8-year low

Enlarge / The regional headquarters of Samsung in Mountain View, California. (credit: Getty Images/Smith Collection)

Samsung Electronics has a big phone launch this week, but before that happens, let's check in on the company's last quarter. Following the trend of the industry as a whole, Samsung's earnings seem like a disaster.

For Q4 2022, the company's revenue—down to 70.5 trillion won ($57.3 billion), or an 8 percent drop from Q4 2021—doesn't look too bad. Q4 profits plummeted 69 percent year over year, though, down to 4.3 trillion Korean won, or $3.5 billion. That's an eight-year low, going back to Q3 2014,

Samsung Electronics makes just about every electronic device and every part you'd find in one of those devices—phones, tablets, TVs, laptops, memory chips, SoCs, displays, camera sensors, and batteries—so the company's earnings will always go the way the general economy goes.

Read 6 remaining paragraphs | Comments

from Tech – Ars Technica https://ift.tt/deARLNl