We got to see the Q1 2023 sales report revealing how far Google has gone in their Pixel sales and we’re now seeing something similar from the Korean tech giant, Samsung. By that, we mean, Samsung has officially released its Q1 2023 sales report. Let’s take a look at what we’ve got.
Details of Samsung Q1 2023 sales report
Between January and March, operating profit fell 18% year on year, while profit fell 95%, from KRW 14.12 trillion to KRW 0.64 trillion. Samsung anticipates a comeback in worldwide demand in the second part of the year, which will aid its recovery. In this disappointing quarter, the mobile experience division, which is in charge of smartphones and smart gadgets, suffered the least. Sales were down 2% year on year but up 22% quarterly.
The network business, which is part of the same division, suffered a minor setback owing to difficulties in large international markets such as North America and SW Asia, although operational profit improved both quarterly and yearly. The boost in quarterly sales may be linked to the release of a new premium smartphone model, the Galaxy S23 series, with the S23 Ultra performing especially well. Efforts were also made to increase operational efficiency.
The company stated that the downturn in the memory and semiconductor industry is attributable to poor demand and client inventory adjustments. The display industry also underperformed as the market for mobile panels fell, although the big panel sector trimmed losses marginally. The strength of the Korean won versus the US dollar also had a detrimental impact, mainly in the component business.
Current market trends are expected to continue in the next quarter, which ends in June. The DS Division will concentrate on improving the gate-all-around (GAA) based 2nm process while addressing DDR, LPDDR5X, and other high-end product demand. Another driving force for the Korean manufacturer in Q2 will be cost efficiency, which could increase profitability both in the short and long run. So there you have it, Samsung Q1 sales report. Although there are some visible setbacks, there are good sides too – thanks to the Samsung Galaxy S23 series. The brand believes that there is still room for improvement – and from our speculations, there’s a lot of room for that.
The Samsung Galaxy Foldables, the Galaxy Z Fold 5 and the Flip 5 should be debuting in August, thus boosting sales and then there’s the Samsung Exynos 2400 chipset in the works which will balance the inadequacies in the availability of chips. Well, let’s see how it will have effect on the reports(other than the Samsung Q1 sales report, that is)
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