Samsung profits jump by more than 900%

[Obsydian]

Its earnings are expected to be boosted by a rebound in semiconductor prices on the global market after a severe downturn a year earlier.

Global memory chip prices are estimated to have risen by around a fifth in the last year.

Samsung's semiconductor division is usually the biggest revenue earner for the firm.

Demand for semiconductors is also expected to remain strong this year, helped by the boom in AI technologies.

The earthquake that hit Taiwan on 3 April may also tighten the global supply of chips, which could allow Samsung to raise prices further.

https://www.bbc.com/news/business-68738046

[smiley]

The problem I have in this world of today is that these levels of profits are somewhat unacceptable... when the prices are increased on handsets and then such increases passed to consumers.

I am sure the shareholders are happy... and although I am willing to pay 'ultra prices' for a phone... it is a bit upsetting that samsung disclose such high levels profits when charging so much for a top end phone.

Diversifying this comment, I also am upset about energy companies charging large increases through months where we will have to pay 30% more just to heat our houses... and then these same companies disclose record profit the next year. Some people are on the breadline... and really can't afford to live as it is... and then shell oil suppliers stating 28 billion profits in 2023 !

The next right now it is car insurance. What will it be next ?

Whilst I am very happy samsung are doing well... and I am a samsung fan boy in many ways... if they can increase their profits by 900% then surely they can pass on some savings to their loyal customers. Maybe foldable should drop in price... maybe ultras should be less than £1000 and not £1349. Not sure how to think about such massive financial gains to be honest. 🤔

You may realise you have hit a raw nerve here obsidian 😂

The increasing costs and the way of this world is a s****y place at times. Doubling profits for ANY company at a time where people are struggling to feed their families... is just wrong in my opinion.

I am an older generation and I am not on the breadline, but I still begrudge paying double for mu car insurance of a year ago.

Also my kids are now both driving and trying to set up in life where these high bills and increasing costs are making life somewhat impossible.

Rant over 😂

Smiley

[JAMES4578]

Whilst there have been tough times and  some company profits are excessive, in this case need to see a bit of context.  The follows a relatively poor year in 2023,can see operating profit fortunes in this graph https://www.statista.com/statistics/237093/samsungs-operating-profit-quarterly-figures/ 

of a course a  meaningful reduction in flagship prices would be welcome but not too likely.

[Obsydian]

I hear you, buddy, a major sore point for me, but it's a global shareholder greed. I think rich get rich off the poor, just look at the UK.

For me it's a simple principle, corporate greed, if people can no longer afford to buy mobiles, cars, houses or even buy on credit, then the population able to afford such expenses are niche.

But most businesses just rob and pillage via dividends, etc load up lots of debt and the UK example ask the Government to bail them out, who we know are all in bed together.

All that said companies are based on making money and shareholder return, most of our pensions rely on such a system.

[smiley]

That certainly does add some context. 2023 looks poor compared to the trend. Surprised with the S23 series release in Jan 23 that their figures were so bad... but this downfall is clearly dominated by semiconductor issues and not so much the mobile phones market.

[Star_girl]

I was wondering if they can use the money in customer support and software updates. I by no means look at Samsung profits with a critical eye, I am glad this company prospers and thrives, because they make my favourite phones and other electricals.
Also if they could implement Snapdragon CPU for a larger range of phones would be great. Even with the new Exynos upgrades, I kinda still don't have enough confidence to buy it, after previous experience with Exynos phones.

[Star_girl]

It would be nice if flagship phones would be more affordable, there are hardworking people that don't earn enough to afford a flagship phone. The midrange phones are good but some people deserve more.