Here’s why Samsung reached deeper in its pockets after low profits

Tech giant Samsung has reported its lowest quarterly profit in eight years this week an indicator to the weakened global economy to hit PC and smartphone demand.

Samsung which recently showcased its latest Galaxy S23 range of smartphones as well as the new Galaxy laptops for artists and creatives has seen better days.

The South Korean chip maker does expect demand to recover mid-year in 2023 as operating profit fell 69% to 4.31 trillion in the last three months from a year earlier.

Revenue reportedly fell 8% to 70.5 trillion with stock which is up by 10% this year falling 3.6% this week.

Weak demand including a global economic slowdown seems to be the apparent issue.

Consumer’s apparently wanted fewer electronic devices between October to December compared to the same time the year before.

The tech giant is not planning to slow down on spending as it has indicated it plans to reach deeper into their deep pockets to expand its market share in chips used in smartphones and PCs.

While the chipmaker expects short term production to drop slightly, it will be adjusting production lines to more advanced chipmaking processes.

Samsung unveiled their new generation of premium Galaxy S smartphones on Wednesday, which are on sale internationally.

The smartphones are powered by the new Snapdragon 8 Gen 2 processor designed just for Samsung.

They feature 120Hz AMOLED screens and storage of up to 1TB.

The Samsung Galaxy S23 Ultra comes with a 200MP camera ready for those streaming services and jaw-dropping imagery.

Samsung unpacked their Galaxy S23, the Galaxy S23+ and Galaxy S23 Ultra.

The tech giant also unveiled its latest laptop range the Galaxy Book 3 series.

That is the Galaxy Book 3, the Galaxy Book 3 Pro, and the Galaxy Book Plus.

The S23’s camera is comes with a high resolution 200 megapixel main sensor which is practically double that of it’s predecessor.

This means more light, brighter imagery, more pixels, higher resolution and pretty much more detailed shots.

The Galaxy S23 Plus on the other hand come with triple camera systems consisting of 50 megapixel main sensors.

Also read: Boost your community and win the LG Global Ambassador Challenge

Featured image: @UniverseIce/Twitter



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