Samsung faces weakest quarter since 2009 as memory chip market in ‘worst slump in decades’

CNBC ^ | 4/24/23 | Arjun Kharpal

[CFW]

Samsung could report its worst profit in 14 years this week, as prices for memory chips, its biggest business, continue to fall, while demand stays weak.

The South Korean technology giant guided earlier this month that it would post operating profit of 600 billion Korean won ($449 million) for the first quarter. If Samsung reports this number, it would be the company’s lowest profit since the first quarter of 2009.

Samsung releases preliminary earnings guidance, but does not give detailed figures. It reports its full first quarter earnings on Thursday.

Samsung is the world’s largest maker of memory chips, which go into everything from PCs to servers in data centers.

[CFW]

It will be interesting to see what their actual earnings numbers are when reported.

[CFW]

In other earnings news,

https://www.cnbc.com/2023/04/24/coca-cola-ko-q1-2023-earnings.html
Coca-Cola earnings beat estimates, fueled by price hikes and higher demand

And other financial news:

https://www.cnbc.com/2023/04/24/economic-and-political-factors-behind-acceleration-of-de-dollarization.html
Calls to move away from the U.S. dollar are growing — but the greenback is still king

[ComputerGuy]

I’m in the market for some. The ones I have are wearing out.

[Gay State Conservative]

I went to the ROK last year and was stunned to see how big Samsung is there. They have apartment complexes...they make cars...

[GaltAdonis]

First there was a massive chip shortage - but now the industry is slumping.

Stop the semiconductor merry-go-round, I want off!

/sarc

[Cincinnatus.45-70]

Historically, one of the biggest drivers of computer and chip sales has been small businesses and especially small business startups. But now we have multitudes of small businesses failing and bankrupt and few new ones being started.

[minnesota_bound]

You can buy re-furbished pc’s for very little money.
I bought a HP z240 SFF pc in Feb for $135.00 at Amazon
In reviews it originally retailed for $3,200 in 2016!
It has a i5 7500 3.4ghz cpu and a 1TB SSD and 16gbs of memory. It can hold internal 3 hard drives and dvd writer. I have Windows 10. It can run Windows 11 too.
I am adding a re-furbished Sapphire 11315-01-20G Pulse AMD Radeon RX 6400 for $99.99
Everything is fast. No need to buy a $1,000 pc.

[catnipman]

I was shocked that a SAMSUNG 870 EVO SATA III SSD 1TB 2.5” SSD was selling for $59.99 by amazon.com (and not some 3rd party seller) ...

[catnipman]

“But now we have multitudes of small businesses failing and bankrupt and few new ones being started.”

plus the resulting surplus of slightly used superb PCs flooding the market ...