(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] Samsung Electronics announced its third-quarter results, reporting a revenue of 79 trillion KRW and an operating profit of 9.1 trillion KRW. These figures represent year-on-year increases of 17.2% and 274.5%, respectively.

However, the operating profit saw a decline of 12.84% compared to the previous quarter's 10.44 trillion KRW, falling short of market expectations. Analysts attribute this underperformance to sluggish demand in the smartphone and PC markets, leading to a contraction in the general DRAM market. Additionally, the foundry business, which involves semiconductor contract manufacturing, experienced disappointing order results.

Vice Chairman Jeong Hyun-ho expressed regret following the earnings announcement, stating, "We are sorry for not meeting market expectations and for causing concerns regarding our fundamental technological competitiveness and the future of the company."

This acknowledgment of underperformance marks a significant moment for Samsung, as it navigates challenges in a competitive tech landscape.

 

 

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