Despite a significant decline in profits in Q4 2022, Samsung won’t cut investments
Just recently, the South Korean tech firm Samsung announced the revenues generated in Q4 2022 as well as FY 2022. As per the data shared by the company, it appears that the company has suffered a 69% profit plunge in contrast to Q4 2021. The semiconductor unit and the smartphone division of the tech firm are considered to be the major profit-generating units. Despite this fact, they were unable to perform well in Q4 2022. Besides all these facts and figures, the tech company has no plans to cut back on investments.
It has been reassured the company that it won’t limit its investments. Although, on a global scale the demand and supply chain of smartphones, TVs, and semiconductors have badly been impacted. The company stated that they have a great opportunity to prepare for the future. The business firm will keep up the investments in the infrastructure in order to meet the mid to long-term demands. Samsung intends to make investments in clean rooms for its semiconductor chip manufacturing factories.
In addition to this, the South Korean tech firm has declared that the investments in 2023 will be similar in numbers to those made in 2022. Since the company was questioned in a scenario where Micron and SK Hynix are adopting some differentiated strategies that would help them with issues regarding oversupply and undersupply of memory chips. The tech firm declared that it will increase its total spending in chip research and development in contrast to 2022. Furthermore, the company stated that t will work on improving process tech competitiveness and stabilize it.
A revenue of KRW 70.46 trillion (around $57.21 billion) was reported by Samsung for Q4 2022. Whereas the operating profit for this time period was estimated to be KRW 4.31 trillion (around $3.5 billion). On the other hand, the total revenue for 2022 was KRW 302.23 trillion (around $245 billion). Whereas the whole year’s profits were recorded at KRW 43.38 trillion (around $35.22 billion).
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