Samsung’s Q4 profits plummet 69 percent, hit 8-year low
Enlarge / The regional headquarters of Samsung in Mountain View, California. (credit: Getty Images/Smith Collection)
Samsung Electronics has a big phone launch this week, but before that happens, let's check in on the company's last quarter. Following the trend of the industry as a whole, Samsung's earnings seem like a disaster.
For Q4 2022, the company's revenue-down to 70.5 trillion won ($57.3 billion), or an 8 percent drop from Q4 2021-doesn't look too bad. Q4 profits plummeted 69 percent year over year, though, down to 4.3 trillion Korean won, or $3.5 billion. That's an eight-year low, going back to Q3 2014,
Samsung Electronics makes just about every electronic device and every part you'd find in one of those devices-phones, tablets, TVs, laptops, memory chips, SoCs, displays, camera sensors, and batteries-so the company's earnings will always go the way the general economy goes.