Samsung Electronics, a global tech giant, recently unveiled its financial results for the third quarter of 2023, and the numbers have sent shockwaves through the industry. The company reported stellar figures, highlighting its resilience and growth.
As per the input, the total revenue of Samsung was KRW 67.40 trillion, which is a 12% increase from the previous quarter, mainly due to new smartphone releases and higher sales of premium display products.
The operating profit also rose sequentially to KRW 2.43 trillion based on strong sales of flagship models in mobile and strong demand for displays, as losses at the Device Solutions (DS) Division narrowed.
Simultaneously, the Memory Business reduced losses sequentially as sales of high-value-added products and average selling prices somewhat increased. In addition, the mobile panel business also reported a significant increase in earnings on the back of new flagship models.
While the Device eXperience (DX) Division achieved solid results due to robust sales of premium smartphones and TVs. Revenue in the Networks Business declined in major overseas markets as mobile operators scaled back investments. You can read more about this. Here.