After a record loss in its semiconductor division, Samsung’s profit is at a 14-year low.
Samsung just reported a record US$1.6 billion loss in its heretofore bread-and-butter semiconductor division. It made just US$455 million in operating profit this past quarter, a whopping 96% slump compared to Q1 of last year when it was riding high on chip demand, after the COVID-19 pandemic brought on unprecedented supply chain challenges.
Before the chip division, it used to be Samsung’s smartphone business that raked in the big bucks, and it would now have to take its old role to keep Samsung profitable while the memory demand situation improves.
The Galaxy S23 series, in particular, which earned a place in the best Samsung phones pantheon, is reportedly selling 70% better than the S22 models last year, despite the recessionary headwinds in the global demand situation.
