Customers experience Samsung’s new flagship fold-screen phone Galaxy Z Fold5 at a Samsung sales store in Hangzhou, East China’s Zhejiang province, Aug. 14, 2023.
Costfoto | Nurphoto | Getty Images
Samsung Electronics earnings are expected to plunge nearly 80% in the third quarter, according to analyst forecasts, as the company’s biggest profit-driving segment — semiconductors — continues to come under pressure.
The South Korean technology giant will issue earnings guidance on Wednesday. Analysts polled by LSEG expect operating profit of 2.3 trillion Korean won ($1.7 billion) for the September quarter, a 78.7% year-on-year decline. Revenue is expected to come in at 67.8 trillion won, a fall of 11.6%, according to LSEG consensus forecasts.
Samsung is the world’s largest maker of memory chips, used in products ranging from laptops to servers. It is also the world’s biggest smartphone player.
Samsung’s semiconductor business — typically the company’s cash cow — is expected to post a more than 3 trillion won loss for the third quarter, according to analyst forecasts, as it continues to face headwinds.
