Telecommunications Samsung disappoints with weak quarterly figures
Samsung's latest business figures have fallen short of market expectations. In the booming chip market, the competition put the South Korean electronics giant under increasing pressure.
08.10.2024, 04:30
08.10.2024, 04:31
SDA
In its quarterly outlook for the months of July to September, Samsung assumed that the operating profit of 9.1 trillion won (around seven 6.2 billion euros) had increased fourfold year-on-year. Compared to the previous second quarter, however, profits fell by almost 13 percent.
The business figures are only an initial estimate. The Group will only publish more precise figures at a later date, probably at the end of the month.
Share price falls
The markets reacted with disappointment. Samsung's share price fell by over 1.3 percent immediately after the publication of the quarterly outlook.
Experts attribute the comparatively weak quarterly figures to the fact that the market leader for memory chips, smartphones and televisions is currently lagging behind in the development of high-performance semiconductors in the booming artificial intelligence market. In particular, direct competitors Nvidia and SK Hynix are putting Samsung under heavy pressure.
