Samsung Electronics has forecasted revenues for the next quarter, and expects a rather substantial decline in terms of operating profits. In fact the company registers un 32% drop on profit compared to last year, also below market expectations.
Samsung Electronics expects revenue to drop in 2022
Samsung has forecast total sales for the third quarter of 2022 that are around 76 trillion won. A figure that is close to 55 billion euros. But speaking of operating profits, let’s go down to 10.8 trillion won (about 7.8 billion euros). Certainly a huge figure, but well below last year’s 15.8 trillion (11.4 billion euros).
Almost a third less for operating profit, which is below as much as 8.5 percentage points compared to the forecast by analysts. They expected a difficult period as for the whole sector, but not so pronounced.
Samsung will remain the leading company for sales of smartphones, chips, memories, displays and televisions. But precisely because of the many sectors in which it dominates, it will suffer the rloosening that the tech world is experiencing more than others.
This is due both to financial factors such as inflation but also to strategic factors, such as the difficult contribution of supply chain. Higher costs and falling sales will have a heavy impact on the Korean company’s finances.
Samsung will announce its own details in detail quarterly results only on October 27th, when we can get a better idea of how the various sectors in which the company operates have been affected. We will keep you posted.