<Korean News> Samsung Electronics makes an unusual apology for its poor performance.

Samsung Electronics has announced its preliminary performance results for the third quarter of this year.

Samsung Electronics Headquarters

According to the preliminary results released on the 8th, Samsung Electronics achieved consolidated sales of 79 trillion KRW (approximately 87 trillion yen) and an operating profit of 9.1 trillion KRW (approximately 9.97 trillion yen), reflecting a year-on-year increase of 17.21% in sales and a 274.49% surge in operating profit.

Compared to the second quarter, sales increased by 6.66%, though operating profit declined by 12.84%.

In the second quarter, the company's quarterly operating profit reached 10 trillion KRW (approximately 10.94 trillion yen), but in just one quarter, it fell below that 10 trillion mark.

These results are attributed to the slower-than-expected recovery in demand for smartphones and PCs, as well as the underperformance of its key product, general-purpose DRAM.

Samsung Pyeongtaek Campus, the world's largest semiconductor production base

In response to the earnings report, Jeon Young-hyun, Vice Chairman and head of the Device Solutions (DS) division, which oversees the semiconductor business, expressed regret, stating, "The results fell short of market expectations, and I apologize for causing concern not only about our fundamental technological competitiveness but also about the company’s future."

He further stated, "Our top priority is to restore our fundamental technological competitiveness," adding that "the only way for Samsung Electronics to make a leap forward again is through groundbreaking new technologies and unrivaled quality."

He also pledged to stay committed to achieving goals that will pave the way for the future, and to review the company's organizational culture, making efforts to address any issues in how work is being conducted.

For Korean shopping and business agency services

www.online-korea.com