Samsung Electronics Q3 Profits Decline 78%, Storage Market Expected to Revive Next Year_News_ALL NEW SEMI (ANSC)

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Samsung Electronics Q3 Profits Decline 78%, Storage Market Expected to Revive Next Year

2023-11-02

Recently, Samsung Electronics released its Q3 financial report for 2023, with sales of 67.4047 trillion won, a year-on-year decrease of 12.21%; Net income decreased by 40% to 5.5 trillion won; The operating profit was 2.4336 trillion won, a year-on-year decrease of 77.57%; The current net profit was 5.8441 trillion won, a decrease of 37.76%.

Although Samsung Electronics' Q3 net revenue decreased year-on-year, the company still achieved its best performance so far this year due to signs of recovery in the battered storage chip market.

Before Samsung released its financial report, Apple announced that it would launch new customized chips, continuing the trend of major manufacturers developing chips independently.

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Last week, SK Hynix, a competitor of Samsung Electronics, stated that the artificial intelligence boom has driven the growth of demand for DRAM chips. As customers place orders and chip prices stabilize, the impact of reduced production by storage chip manufacturers is beginning to manifest.

Samsung stated in a statement that by 2024, the increase in artificial intelligence capabilities on devices will increase the demand for DRAM chips in high-end products. The company added that the arrival of some product update cycles next year will "potentially restore growth in demand for personal computers and mobile devices".

Samsung Electronics predicts that the prices of storage chips will increase in the fourth quarter compared to Q3, and with the development of artificial intelligence applications, the overall demand for such components will increase. The company stated that the overall capital expenditure this year is approximately 53.7 trillion won, of which 47.5 trillion won will be used for semiconductors, a slight decrease from 47.9 trillion won last year.

Samsung is currently catching up with SK Hynix, which is the only supplier of NVIDIA's next generation product, HBM memory. Samsung stated that it plans to double HBM's production capacity by 2024.

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