[Anchor]
Samsung Electronics, Korea's No. 1 market cap, announced its provisional business performance in the third quarter.
While operating profit did not meet market expectations, Vice Chairman Jeon Young-hyun even issued an unusual apology. Reporter Park Kiwan!
[Reporter]
Yes, I'm Park Ki-wan.
[Anchor]
Please tell me the performance news in detail.
[Reporter]
Yes, Samsung Electronics tentatively announced that it earned 9.1 trillion won in operating profit in the third quarter through the electronic disclosure system.
It is 274.49% and nearly four times higher than in the third quarter of last year.
Sales rose 17.21% in a year to 79 trillion won, breaking the record for the first quarter of 2022, which was the largest in two and a half years.
Although the company reported higher earnings than last year, when it suffered a recession in the semiconductor industry, it is said to have been lower than the downwardly revised market expectations.
Due to the increase in demand for memory semiconductors following the AI craze until August, operating profit of 13 trillion won in the third quarter was expected in the stock market.
However, in the third quarter, we lowered our forecast again to around 10 trillion won, citing falling demand for smartphones and PCs and increasing inventory of non-memory semiconductors.
As a result, Samsung Electronics' stock price fell for five consecutive trading days last week, and yesterday (7th) fell to the 50,000 won level.
However, Samsung Electronics' stock price has not been shaken much despite the earnings shock announced just before the opening.
The transaction is maintained at around KRW 60,500, down about 1% from the previous trading day, and it is guarding the KRW 60,000 range.
[Anchor]
I also wonder why this result came out.
Samsung Electronics explained it itself?
[Reporter]
Yes, Samsung Electronics released a separate explanatory data, saying that its provisional performance achieved its maximum sales, but it is expected to confuse investors because it fell short of market expectations.
In the case of memory semiconductors, there was an inventory adjustment by mobile companies due to reduced demand for smartphones,
In the case of
low-end general-purpose memory semiconductors, Chinese companies have increased their supply, it explained.
In addition, one-time expenses such as employee incentives and the won-dollar exchange rate were reflected in the performance,
In the case of
HBM3E, it said commercialization to major customers was delayed, which means that Nvidia's quality verification test results were delayed and did not lead to sales.
However, the company said that sales of smartphones in the mobile sector and displays have improved in part due to the effect of launching new products from major customers.
In the meantime, Vice Chairman Jeon Young-hyun, a semiconductor reliever of Samsung Electronics, also issued an unusual apology to customers, investors, and executives.
Vice Chairman Jeon apologized for worrying about the future of the company with performance that did not meet market expectations,
All the responsibility lies with the management leading the business, and the management will take the lead in creating an opportunity to make another leap forward to overcome the crisis.
At the same time, he suggested restoring technological competitiveness, thorough future preparation, and rebuilding the organizational culture of communication as a way to overcome the crisis.
In particular, Jeon said, "New technology and perfect quality competitiveness are the only way for Samsung Electronics to leap forward again," adding, "We will rearm with a spirit of challenge that runs toward higher goals, not Mercury's mind to protect what it has."
I'm Park Kiwan of YTN.
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