
Samsung Electronics reported a 274% surge in Q3 operating profit to 9.1 trillion won, falling short of analyst expectations of 10.3 trillion won. The company's Q3 revenue was 79 trillion won, below the expected 82.2 trillion won. This shortfall is attributed to challenges in the AI chip sector and one-off costs in the chip business. Despite solid demand for servers and HBM, the chip division's earnings declined compared to Q2. Samsung's display business saw some improvement due to new product launches by major customers. In response to the disappointing results, Samsung issued a rare public apology, with Vice Chairman Jun Young-hyun acknowledging the company's struggles and committing to future innovation. Seoul shares closed down 0.61% following the weak earnings report. Samsung's profit of $6.8 billion fell short of expectations, with Jun Young-hyun describing the current period as 'testing times'.










Samsung Apologizes For Making Just $6.8 Billion Last Quarter https://t.co/1i6c52lqpG
Opinion: Against the backdrop of a global boom in demand for artificial intelligence (AI) semiconductors, Samsung Electronics’ fast-growing yet lower-than-expected operating profit for the third quarter offers a window into the practical significance of China-South Korea chip… https://t.co/WtEkg2A1zi
*SAMSUNG APOLOGIZES FOR FALLING BEHIND IN THE AI CHIPS RACE PER WSJ