In 2022, the profit of Samsung Q3 plummeted by 3 1.7%. What do you think of this data?

Samsung's preliminary financial report for the third quarter of 2022 showed that its revenue was 76 trillion won (about 53.8 billion US dollars), a year-on-year increase of 2.73%; Operating profit was 10.8 trillion won (about 7.7 billion US dollars), down 3 1.7% year-on-year. This data reflects that Samsung's operating conditions in the third quarter of 2022 are not ideal, and its profits have fallen sharply.

Samsung's profit decline is mainly due to the sharp decline in the memory chip industry. It is reported that the price of some DRAM memory chips plummeted 14% this quarter, while the price of NAND flash memory chips used for data storage dropped by 8%. These two factors have had a significant impact on Samsung's operating profit.

In addition, Samsung's revenue was also lower than expected, and analysts' average estimate was 78.5 trillion won (about 55.6 billion US dollars). This may mean that Samsung's product sales are not ideal, which also puts pressure on its profits.

Generally speaking, Samsung's operating conditions in the third quarter of 2022 are even more difficult, facing the drastic fluctuation of the memory chip industry and the challenge of market demand. This data undoubtedly sounded the alarm for Samsung, and Samsung needs to make corresponding adjustments in its future business strategy.