SAMSUNG OPERATING PROFIT
Samsung says 'no disruption' to production despite strike
Despite a three-day strike by over 5,000 union members, Samsung's production remains unaffected. The strike is part of an ongoing dispute over pay and benefits. The union, representing more than 30,000 workers, has been negotiating since January. Samsung expects significant profit and sales increases for April-June.
ET Explainer: Why are South Korean Samsung workers protesting?
The National Samsung Electronic Union (NSEU) which represents thousands of Samsung Electronics workers expressed dissatisfaction with the annual leave, wages, and current bonus calculations. Despite Samsung proposing flexible terms regarding pay and leave, they do not meet the union's demands for increased compensation and improved benefits.
Samsung Electronics workers strike as union voice grows in South Korea
The National Samsung Electronics Union (NSEU), whose roughly 30,000 members make up almost a quarter of the firm's South Korean workforce, also wants an extra day of annual leave for unionised workers and changes to the employee bonus system.
Samsung workers begin three-day general strike over pay
Samsung Electronics is the world's largest memory chip maker and accounts for a significant chunk of global output of the high-end chips.
South Korean stocks rise ahead of US jobs data
South Korean KOSPI up 0.67%, driven by U.S. jobs data, Federal Reserve rate cut hopes. Samsung, SK Hynix up; LG Energy Solution down. Samsung forecasts high Q2 profit. Won appreciated, bond yields fell; Foreigners bought 411.6 billion won. Hyundai Motor flat, Kia down, Naver, Kakao up. Offshore, won at 1,378.3. Three-year treasury bond yield fell by 1 bp.
Samsung Electronics forecasts major Q2 profit jump
Samsung Electronics said Friday it expects second-quarter operating profits to rise more than 15-fold on-year as chip prices bounce back and demand for generative AI continues to grow. The world's largest memory chip maker said in a regulatory filing that its April-June operating profits were expected to rise to 10.4 trillion won ($7.54 billion), up 1,452.2 percent from 670 billion won a year earlier.
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The electronics manufacturer has over two dozen production facilities across the country. Dixon makes smartphones and feature phones for brands such as Xiaomi, Motorola, Samsung and Jio, and is in talks with other global brands for more manufacturing orders.
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Samsung first-quarter profit up 10-fold on memory chip recovery
The world's biggest maker of memory chips and TVs said operating profit rose to 6.6 trillion won ($4.8 billion) in January-March, up from 640 billion won a year earlier.
Samsung reports a 10-fold increase in profit as AI drives rebound in memory chip markets
The South Korean semiconductor and smartphone giant said its operating profit for the Jan-March quarter came in at 6.6 trillion won ($4.8 billion), up from the 640 billion won ($465 million) it earned during the same period last year.
Wipro Q4 results; RBI nod for Cred’s payment aggregator biz
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Samsung flags 10-fold rise in first-quarter profit as chip prices recover
The world's largest memory chip and TV maker estimated its operating profit rose to a better-than-expected 6.6 trillion won ($4.89 billion) in the quarter ended March 31. That was up 931% from 640 billion won a year earlier, the South Korean firm said in a short preliminary earnings statement
Samsung flags 10-fold rise in first-quarter profit as chip prices recover
Samsung's robust Q1 profits, driven by chip prices rebounding, Galaxy S24 performance, and potential post-Taiwan earthquake price hikes, showcased a 10-fold rise in operating profit, beating estimates but missing revenue expectations.
Samsung profit likely biggest in six quarters on higher chip prices
Operating profit for Samsung likely rose to 5.7 trillion won ($4.24 billion) in the quarter ended March 31, according to the average of an LSEG SmartEstimate from 27 analysts, weighted toward those who are more consistently accurate.
Samsung profit likely biggest in six quarters on higher chip prices
Samsung Electronics anticipates a near nine-fold increase in first-quarter profit, reaching 5.7 trillion won, driven by rising semiconductor prices. The surge is fueled by strong performance in memory chips and limited supply of lower-margin chips.
Samsung sees tech devices demand recovering in 2024 after record chip loss
The world's biggest maker of memory chips said it expected mobile and PC makers to place more and better chips in devices as use of artificial intelligence expands, while the need to replace older servers would also aid a gradual recovery in demand.
Memory chip giant SK Hynix returns to profit on strong AI demand
The world's second-largest memory chip maker, South Korea's SK Hynix, said on Thursday it had returned to profit after four consecutive quarters of losses driven by demand for chips used in artificial intelligence. SK Hynix is South Korea's second most valuable company, with market capitalisation of more than 101 trillion won, trailing Samsung Electronics' 443 trillion won.
Paytm trims Q3 losses; Dream11 FY23 revenue grows 66%
Digital payments major Paytm on Friday said it has narrowed losses to Rs 222 crore for the quarter ended December, from Rs 392 crore a year ago and Rs 290 crore in the preceding quarter.
Samsung flags bigger-than-expected Q4 profit drop on weak demand
Samsung Electronics Co Ltd reported a likely 35% drop in fourth-quarter operating profit on Tuesday, much worse than analysts expected as weak consumer demand persisted in many of its businesses even as memory chip prices improved.
Samsung flags bigger-than-expected Q4 profit drop on weak demand
Lower-than-expected profit from Samsung's chip contract manufacturing, mobile processors, television and home appliance businesses may have caused Samsung to fall short of forecasts, analysts said.
Apple India's net profit up 76%, sales touched Rs 50,000 crore in FY23
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Samsung says chips to recover in 2024 after best quarterly profit this year
Loss in the memory chip business shrank to 3.75 trillion won in the third quarter, versus a 4.36 trillion won loss in the second, as Samsung focused on more profitable advanced chips such as DRAM chips used in AI, while continuing to cut production of older chips.
Samsung Q3 profit beats expectations, raising hopes of chip recovery
Samsung Electronics on Wednesday said its preliminary third-quarter profit dropped by a smaller-than-expected 78%, as the battered memory chip market shows early signs of recovering from a severe downturn.
Samsung flags 78% drop in Q3 profit as chip losses extend
The world's largest memory chip and smartphone maker estimated its operating profit fell to 2.4 trillion won ($1.79 billion) in July-September, from 10.85 trillion won a year earlier in a short preliminary earnings statement.
Samsung Q3 profit set to slump 80% as chip losses persist
Operating profit likely fell to 2.1 trillion won ($1.56 billion) in the July-September quarter, according to a LSEG SmartEstimate from 19 analysts, weighted toward those who are more consistently accurate.
Samsung Electric forecasts 96% drop in Q2 profit as chip glut drags on
According to company data, it would be Samsung's lowest profit for any quarter since a 590 billion won profit in the first quarter of 2009.
Results preview: Persisting chip glut to pull down Samsung's profit to 14-year-low
Operating profit for the world's biggest maker of memory chips, smartphones and TVs likely fell to 555 billion won ($427 million) in the April-June quarter, according to a Refinitiv SmartEstimate from 27 analysts, weighted toward those who are more consistently accurate
Samsung results: Operating profit falls 95%, firms flags H2 recovery
The South Korean tech giant's chip division - normally its most reliable cash cow - reported a 4.58 trillion won loss compared to a 8.45 trillion won profit a year earlier.
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