Samsung Annual Revenue Decreases In 2023

Samsung's earnings in 2023 (photo: dock. unsplash)

JAKARTA Samsung Electronics released its earnings report on Wednesday, January 31. From the published report, Samsung proved to have failed to recover their income in 2022.

Based on the report, Samsung's annual revenue only reached 258.94 trillion won (Rp3.05 quadrillion) and its operating profit was only 6.57 trillion won (Rp77.5 trillion). This figure is much smaller than the previous report.

In the fiscal year 2022 report, Samsung's operating profit reached 43.38 trillion won (Rp512 trillion). The total revenue that did not experience this increase shows that Samsung had a difficult time last year.

Samsung admits that his company has suffered losses in several divisions, one of which is the memory division. Although the business in this field has shown signs of recovery, the loss still reaches 2.18 trillion won (IDR 25 trillion).

IT's memory market and demand are expected to continue to recover in 2024, although macroeconomic uncertainty is still visible. The company will meet semiconductor demand for AI applications and expand the market for consumer products supporting AI, "explained Samsung through its official release.

Apart from the lack of demand, this loss occurred because Samsung maximized spending on infrastructure development in Pyeongtak, Korea. The company is also focused on expanding the production capacity of HBM, DDR5, and other advanced nodes.

The casting investment is focused on expanding the production capacity of advanced EUV nodes measuring 5 nanometers (nm) down, as well as infrastructure at the Company's plant in Taylor, Texas. Screen investments are mainly made on IT OLED products and flexible screens," said Samsung.

Not only the memory business, but the visual display division and digital equipment also suffered losses. From the report, it was recorded that the operating loss reached 0.05 trillion won or around Rp590 billion.