2024-04-30 00:55:01
Samsung Electronics (005930) announced on the 30th that its operating profit in the first quarter of this year (January to March) recorded KRW 6.606 trillion, an increase of 931.87% compared to the same period last year. During the same period, sales also increased by 12.82% compared to the same period last year, reaching KRW 71.9156 trillion.
Sales recovered to the 70 trillion won range in five quarters, and operating profit reached last year’s operating profit of 6.567 trillion won in just one quarter.
It slightly exceeded the sales (71 trillion won) and operating profit (6.6 trillion won) that were provisionally calculated on the 5th. Compared to the previous quarter’s operating profit (KRW 2.8247 trillion), the first quarter of this year increased by KRW 3.7813 trillion (133.87%).
This performance improvement is thanks to the recovery of the DS (semiconductor) division, which is the main business. The semiconductor division suffered losses for all four quarters last year, recording an annual operating loss of 14.87 trillion won.
In the first quarter of this year, the DS division recorded sales of 23.14 trillion won and operating profit of 1.91 trillion won due to rising memory prices and increased purchase demand. This is the first time in five quarters since the fourth quarter of 2022 (KRW 270 billion) that the DS division has recorded a surplus.
Thanks to strong sales of the Galaxy S24 series, the DX (device experience) sector performed well. The DX division achieved sales of 47.29 trillion won and operating profit of 4.7 trillion won.
Within the DX division, MX (mobile experience)/network alone generated an operating profit of 3.51 trillion won. VD (Video Display)/Home Appliances, which suffered an operating loss of 50 billion won in the fourth quarter of last year, returned to profit with an operating profit of 530 billion won.
SDC (Samsung Display) recorded sales of 5.39 trillion won and operating profit of 340 billion won in the first quarter. In the case of small and medium-sized products, performance decreased compared to the previous quarter due to sales competition, but in the case of large-sized products, the deficit was alleviated due to the introduction of new QD (quantum dot) and OLED (organic light emitting diode) monitors.
Harman, a subsidiary in charge of the electronics business, recorded slightly lower performance (sales of 3.2 trillion won and operating profit of 240 billion won) as it entered the off-season.
Samsung Electronics said, “With the IT (information technology) market recovering, memory turned into a surplus in response to demand for high value-added products, and MX also saw profits increase due to strong sales of flagship smartphones,” and added, “The Korean won related to welcome scents in the first quarter was overall weak against major currencies. “There was a positive effect of approximately 300 billion won on company-wide operating profit compared to the previous quarter,” he explained.
(Seoul = News 1)
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2024-04-30 00:55:01