• Latest
  • Trending

Samsung Profit Expected To Dip 25% Due To Chip Demand Decline – Report

October 6, 2022
Danbatta, NCC Boss to Receive Vanguard’s ‘Regulator of the Year’ Award

Danbatta, NCC Boss to Receive Vanguard’s ‘Regulator of the Year’ Award

January 27, 2023
CBN, NIBSS Unveil New Domestic Financial Transaction Card, AfriGO

CBN, NIBSS Unveil New Domestic Financial Transaction Card, AfriGO

January 27, 2023
NGX Optimistic Over 2023 Economic Outlook, As Exchange Launches USSD IPS

NGX Optimistic Over 2023 Economic Outlook, As Exchange Launches USSD IPS

January 27, 2023
More Trouble For China As Japan, Netherlands Join US In Chip–Related Restrictions

More Trouble For China As Japan, Netherlands Join US In Chip–Related Restrictions

January 27, 2023
CBN, NIBSS To Unveil Domestic Card Scheme To Address Peculiar Payment Challenges

CBN, NIBSS To Unveil Domestic Card Scheme To Address Peculiar Payment Challenges

January 27, 2023
NITDA Officially Flag Off TIES Scheme In Six Geopolitical Zones

NITDA Officially Flag Off TIES Scheme In Six Geopolitical Zones

January 26, 2023
Interswitch Now Operates With Payments Service Holding Company License

Interswitch Now Operates With Payments Service Holding Company License

January 26, 2023
Meta To Grant Trump Access To His Facebook and Instagram Accounts

Meta To Grant Trump Access To His Facebook and Instagram Accounts

January 26, 2023
IBM Joins The Job Cut Train Amidst Missed Revenue Target, Lays Off 3,900

IBM Joins The Job Cut Train Amidst Missed Revenue Target, Lays Off 3,900

January 26, 2023
Data Privacy: NDPB Marks One Year As Minister Flags Off National Privacy Week

Data Privacy: NDPB Marks One Year As Minister Flags Off National Privacy Week

January 25, 2023
Airtel Introduces eSIM Service To Subscribers

Airtel Introduces eSIM Service To Subscribers

January 25, 2023
NITDA Boss Charges Meta On Boosting Indigenous Fact-Checkers, Assures Govt. Non-Interference

NITDA Boss Charges Meta On Boosting Indigenous Fact-Checkers, Assures Govt. Non-Interference

January 25, 2023
EBusiness Life
Saturday, January 28, 2023
Newsletter
Contact Us
  • Home
  • NewsBytes
    • Agrictech
    • Cybersecurity
    • e-Politics
    • Entertainment
    • Fintech
    • Foreign News
    • Local News
    • Social Media
    • StartUps
    • State News
  • Big Issues
  • Columns
    • Contributions
    • eScope
    • Inside Issues
  • Cyberparenting
  • Tech Talk
    • Innovations
    • World of Sc & Tech
  • Gadget Review
    • Phones
    • Laptops
    • Accessories
  • Interviews
  • Events
  • PhotoNews
  • Archives
  • Digital Edition
No Result
View All Result
E-Business Life
No Result
View All Result

Samsung Profit Expected To Dip 25% Due To Chip Demand Decline – Report

by Admin
October 6, 2022
in NewsBytes
Reading Time: 2 mins read
A A
0

Samsung Electronics Co Limited’s third-quarter profit could tumble 25%, the first year-on-year decline in nearly three years, as an economic downturn saps demand for electronic devices and the chips that power them.

Globally, inflation is on the rise, central banks are aggressively hiking interest rates, fears of recession are growing and uncertainty about the fallout from Russia’s invasion of Ukraine is ever-present. As a result, businesses and consumers alike have reined in spending.

YOU MAY ALSO LIKE

Danbatta, NCC Boss to Receive Vanguard’s ‘Regulator of the Year’ Award

CBN, NIBSS Unveil New Domestic Financial Transaction Card, AfriGO

Operating profit for Samsung, the world’s biggest memory chip and smartphone maker, likely fell to 11.8 trillion won ($8.3 billion) in the July-September quarter, according to a Refinitiv SmartEstimate from 22 analysts.

“Being the world’s top memory chip maker, top in TV and mobile OLED displays, and top in smartphone shipments, Samsung is highly sensitive to the economy, with profits easily linked to demand,” said Head of Research at Hyundai Motor Securities, Greg Roh.

It would be the first profit decline since the first quarter of 2020, early on in the pandemic, and the lowest level of quarterly profit since the first quarter of 2021. Until this latest quarter, robust demand for devices as people were forced to stay at home has driven large profit gains for the South Korean tech giant.

Operating profit for Samsung’s chip business likely fell by nearly a third to 6.8 trillion won, an average of seven estimates showed.

Prices of some DRAM memory chips, widely used in smartphones and PCs, tumbled 14% in the quarter while prices for NAND flash chips, used in data storage, fell 8%, according to TrendForce data.

Shares in Samsung, which will announce preliminary results Thursday night, have fallen about 30% this year. That compares with a 37% slump for the Philadelphia Semiconductor index.

Samsung’s mobile business is also expected to see profits tumble with forecasts calling for a 17% fall to 2.8 trillion won, although the launch of the company’s pricy new foldable phones during the quarter raised the average selling price.

An analyst at Daol Investment & Securities, Kim Yang-jae, estimates that Samsung’s smartphone shipments dropped 11% in the quarter from the same period a year earlier to about 62.6 million smartphones after distribution channels cut orders.

Memory chip rival Micron Technology last week significantly cut its investments for the next year and warned of tougher times ahead.

Share this:

  • Tweet
  • WhatsApp
  • Telegram
ShareTweetSendShareShareBookmark

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result

Recent News

Danbatta, NCC Boss to Receive Vanguard’s ‘Regulator of the Year’ Award

Danbatta, NCC Boss to Receive Vanguard’s ‘Regulator of the Year’ Award

January 27, 2023
CBN, NIBSS Unveil New Domestic Financial Transaction Card, AfriGO

CBN, NIBSS Unveil New Domestic Financial Transaction Card, AfriGO

January 27, 2023
NGX Optimistic Over 2023 Economic Outlook, As Exchange Launches USSD IPS

NGX Optimistic Over 2023 Economic Outlook, As Exchange Launches USSD IPS

January 27, 2023

Ebusiness Life

Ebusiness Life is news Tech company. We give you latest updates on Tech News and other tech related news.

Join our mailing list and get latest updates.

Check your inbox or spam folder to confirm your subscription.

Popular Posts

Danbatta, NCC Boss to Receive Vanguard’s ‘Regulator of the Year’ Award

Danbatta, NCC Boss to Receive Vanguard’s ‘Regulator of the Year’ Award

by Admin
January 27, 2023
0

CBN, NIBSS Unveil New Domestic Financial Transaction Card, AfriGO

CBN, NIBSS Unveil New Domestic Financial Transaction Card, AfriGO

by Admin
January 27, 2023
0

NGX Optimistic Over 2023 Economic Outlook, As Exchange Launches USSD IPS

NGX Optimistic Over 2023 Economic Outlook, As Exchange Launches USSD IPS

by Admin
January 27, 2023
0

Categories

  • Big Issues
  • Columns
  • Cyberparenting
  • eBusiness
  • Gadget Review
    • Laptops
    • Phones
  • Interviews
  • NewsBytes
    • Agrictech
    • Cybersecurity
    • Entertainment
    • Fintech
    • Foreign News
    • Local News
    • Social Media
    • StartUps
  • Opinion
  • Tech Talk
    • World of Sc & Tech
  • Uncategorized

Quick Links

  • Contact Us
  • Newsletter
  • Privacy & Policy
  • Contact Us
  • Newsletter
  • Privacy & Policy

© 2022 Ebusiness Life - Desinged by Kreative TechPoint.

No Result
View All Result
  • Home
  • NewsBytes
    • Agrictech
    • Cybersecurity
    • e-Politics
    • Entertainment
    • Fintech
    • Foreign News
    • Local News
    • Social Media
    • StartUps
    • State News
  • Big Issues
  • Columns
    • Contributions
    • eScope
    • Inside Issues
  • Cyberparenting
  • Tech Talk
    • Innovations
    • World of Sc & Tech
  • Gadget Review
    • Phones
    • Laptops
    • Accessories
  • Interviews
  • Events
  • PhotoNews
  • Archives
  • Digital Edition

© 2022 Ebusiness Life - Desinged by Kreative TechPoint.