Samsung’s report for the fourth quarter of 2023 reveals a net sales figure of 67.78 trillion won, a decrease of 4% compared to the same quarter last year. However, there was a 1% increase when compared to the third quarter of 2023. The operating profit also decreased to 2.82 trillion won, while the net profit amounted to 6.34 trillion won, derived from tax benefits and non-operating expenses.
According to Samsung, the memory unit business shows signs of recovering to normal levels in terms of product demand, both from PC and smartphone customers. On the other hand, the server group that utilizes AI technology continues to exhibit strong growth.
As for the smartphone business, it remains steady with a strong sales performance in the premium smartphone category. However, tablet and wearable devices also experience significant sales growth. The Galaxy S24 is expected to contribute positively to Samsung’s smartphone AI lineup.
TLDR: Samsung’s net sales for Q4 2023 decreased by 4% compared to the previous year, but increased by 1% compared to Q3 2023. The operating profit declined to 2.82 trillion won, while the net profit reached 6.34 trillion won. The memory unit business is recovering, and the smartphone business remains solid. The Galaxy S24 is positioned as an AI smartphone.
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