[4K] SEVENTEEN, BOYNEXTDOOR, Xdinary Heroes, Solar, DOYOUNG, FANTASY BOYS, YOUNITE | On the way to music bank 240503
2024-05-03
#Hot Issues of the Week l 2023-01-08
Samsung Electronics has projected a nosedive of nearly 70 percent
for its fourth quarter operating profit.
LG Electronics also disclosed ITS fourth quarter operating profit plummeted
more than 91 percent from a year earlier.
Samsung Electronics gave its earnings guidance on Friday
that showed its operating profit came to four-point-three trillion won,
or around three-point-four billion U.S. dollars,
in the October-to-December period,
a 69-percent drop over last year and 60-point-seven percent from last quarter.
It marks the first time Samsung reported a quarterly operating profit
of less than five trillion won since the third quarter in 2014,
when it stood at four-point-06 trillion won.
Sales will likely reach 70 trillion won for the quarter,
down eight-point-58 percent on-year.
The company cited its dismal figures
to weak demand for memory chips and smartphones
amid high prices and rising interest rates.
Its rival LG Electronics also unveiled its operating profit for the same period
of 65-point-five billion won,
or about 51-point-five million dollars,
for a whopping 91-point-two percent on-year plunge.
The figure is also 79-point-five percent lower than
the market estimate tallied in a survey by Yonhap Infomax,
the financial data arm of Yonhap News Agency.
2024-05-03
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