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(Seoul=NSP NEWS AGENCY) = Samsung Electronics reported Q4 2023 earnings of KRW 67.78 trillion in revenue and KRW 2.82 trillion in operating profit on a consolidated basis.

Compared to the same period last year, sales fell 3.81% and operating profit fell 34.4%. In 2023, it recorded annual sales of KRW 258.94 trillion and operating profit of KRW 6.57 trillion.

In the fourth quarter, smartphone shipments decreased as competition during the year-end peak season intensified, but company-wide sales recorded KRW 67.78 trillion, up 0.6% from the previous quarter due to rising memory prices and strong sales of display premium products.

Operating profit recorded KRW 2.82 trillion, an increase of 390 billion won compared to the previous quarter, as competition for set products intensified and the effectiveness of flagship smartphone launches decreased, memory performance improved significantly and display performance continued to improve.

It continued to aggressively invest in R&D for future growth, with R&D expenditure up to KRW 7.55 trillion in the quarter.

In the 4th quarter, the overall average exchange rate fluctuations for the dollar, euro, and major emerging market currencies were not significant, so the impact on company-wide operating profit compared to the previous quarter was minimal.

The memory market and IT demand are expected to recover in 2024. Samsung Electronics plans to strengthen its premium leadership and competitiveness in high-tech processes and prepare for future technologies while actively responding to AI semiconductors and preoccupying the AI-equipped product market.

By Soon-ki Lee(s8789@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

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