Samsung Electronics reported a staggering 277% increase in operating profits to $6.6 billion, driven by one-off costs, yet missed market expectations significantly.
Despite nearly tripling its operating profit year-on-year, Samsung's latest results highlighted a worrying trend, with a 12% decline from the previous quarter, raising questions about future competitiveness.
Samsung's semiconductor division suffered a substantial 40% drop in operating profit from the previous quarter, primarily due to reduced inventory valuation reversals and foreign currency impacts.
In an uncharacteristic move, Samsung's management issued an apology acknowledging the company's current 'crisis' and concerns surrounding its technological competitiveness in the semiconductor sector.
#samsung-electronics #operating-profits #semiconductors #artificial-intelligence #market-expectations
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