Samsung reported its lowest operating profit in 14 years for the first quarter this year from the chip downturn.
The strong performance of the Galaxy S23 Series seemed to have saved Samsung from recording a loss. Image: Samsung
Samsung said on Friday in its earnings guidance that it recorded 63 trillion won in revenue and 600 billion won in operating profit for the first quarter of 2023.
Operating profit nosedived by 96% year-on-year and is the South Korean tech giant’s lowest profit figure in 14 years since the first quarter of 2009 during the global financial crisis.
