Samsung Electronics' operating profit fell short of expectations in the third quarter.
Through the Financial Supervisory Service's electronic disclosure system today (8th), Samsung Electronics tentatively announced that its operating profit in the third quarter was 9.1 trillion won, up 274.5% from the same period last year when the semiconductor industry continued to suffer a recession.
This is more than 12.8% lower than the previous quarter, the second quarter.
During the same period, sales rose more than 17% from a year ago to 79 trillion won, the highest ever.
Vice Chairman Jeon Young-hyun, head of Samsung Electronics' semiconductor division, issued an unusual apology message and said he apologized on behalf of the management, saying that he caused concerns about the performance that did not meet market expectations.
He added that management is responsible for all the responsibilities, and that he will make it an opportunity to take a leap forward by restoring the fundamental competitiveness of technology and rebuilding the organizational culture of trust and communication.
The stock market, which had previously predicted that Samsung Electronics' operating profit in the third quarter could reach KRW 13 trillion, lowered its forecast to KRW 10 trillion due to falling demand for smartphones and PCs, and rising inventory of non-memory semiconductors.
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