Samsung’s Q1 2023 profits have declined by 95% due to weak global demand for chips, with its semiconductor division posting a significant loss.
Samsung, the South Korean technology giant, has reported a massive 95% decline in its operating profit in the first quarter of 2023. This has been largely attributed to the weakening demand for its semiconductor products, which is its largest source of revenue. The company’s chip division incurred a loss of 4.58 trillion won ($3.41 billion) for the quarter, mainly due to the falling memory chip prices and the declining demand for chip products.Samsung’s Q1 2023 earnings report highlights a significant profit decline
Samsung has reported a revenue of 63.75 trillion Korean won ($47.
