Samsung’s profit – level 3

16-10-2023 07:00

Samsung Electronics announced that its preliminary third-quarter profit dropped by a smaller-than-expected 78%.

This news has raised optimism as the memory chip market, which has been struggling, shows early signs of recovery. The company’s shares rose by 3.3%, outperforming the wider market’s 1.4% increase, with analysts suggesting that memory chip prices may have hit their lowest point in the third quarter, and some types are starting to bounce back.

Samsung’s estimated operating profit for July-September is 1.79 billion dollars, a significant decline from the previous year. Despite challenges in the chip business, the decline in memory prices appears to be stabilizing, offering hope for the future.

Difficult words: preliminary (not final), outperform (to perform better than), operating profit (a profit from business operations before paying tax).

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What other types of products is Samsung Electronics investing in to diversify its income streams?


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