High profits "Samsung" South Korea, despite the decline in demand for chips
On January 31 / WAM / South Korean Electronics, Samsung Electronics announced that its net income in the fourth quarter of last year increased by more than 20% compared to the previous year, exceeding the market expectations, despite the decline in global demand for memory chips.
The net income of the company reached 7.75 trillion Won (5.4 billion US dollars) for the period from October to December of last year, an increase of 22.2% from 6.34 trillion Won in the previous year, according to the company in an organizational report. The operational profits for the period from October to December last year reached 6.49 trillion Won, an increase of 129.9% over the same period of the previous year, and sales increased by 11.8% to reach 75.78 trillion Won. The profits exceeded the market expectations, as the average analysts’ estimates of the company’s net profit reached 5.69 trillion Won, according to a survey conducted by “Yonhap Infumax”, the length of the financial data of Yonhap.
The pioneering semiconductor works of the company achieved 2.9 trillion Won of operational profits in the fourth quarter, and its sales recorded 30.3 trillion Won.
The company said that it had spent 10.3 trillion winners on research and development in the fourth quarter, and recorded a record of 35 trillion Won in 2024 and the net annual profits for the entire year jumped by 122.5% on an annual basis to 34.45 trillion Won, and the operating income expanded by about five times to reach 32.32 trillion Won from 6.57 trillion Won.
The company’s annual revenue increased by 16.2% to 300.87 trillion Won, the second highest annual number after registering the highest record in 2022.
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