TECHNOLOGY, www.owbabel.com – Samsung’s revenue from sales of its various smartphones will plummet in 2023. However, Samsung is determined to continue leading the global cellphone market with Glaxy AI cellphones, such as the recently launched Galaxy S24 series.
Samsung estimates that consumer sentiment will stabilize and demand for cellphones will recover in 2024. In anticipation of the global economic downturn, this will lead to growth in the cellphone market, especially in the premium segment.
By 2024, Samsung seeks to lead the AI smartphone market by offering users a level of creativity and highly personalized experiences, and strengthening its premium foldable smartphone segment.
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Samsung said it will increase annual shipments of its flagship products by more than ten percent and achieve market-outpacing value growth.
Samsung MX will focus on premium product lines, and wearable devices, and will expand product lines and improve health functions.
Samsung aims to make Galaxy AI the global standard for mobile AI and strives to guarantee increasing sales and steady profitability while investing in future technologies such as XR, Digital Health and Generative AI.
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For business plans in Q1 2024, Samsung will take advantage of the newly launched Galaxy S24 series to increase sales. Galaxy S24 Series phones with advanced AI capabilities are expected to increase their competitiveness.
Despite the potential risk of rising component costs, Samsung strives to achieve double-digit operating margins by continuing to realize resource operational efficiencies.
Samsung reported revenue. This South Korean technology giant in the fourth quarter (Q4) 2023 posted consolidated revenue of 67.78 trillion won (approximately 50.78 million USD), down 3.8% (YoY).
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Samsung generated operating profit of 2.82 trillion won (2.11 million USD), down 34.5% YoY due to uneven chip demand. This is a decline for four consecutive quarters.
Throughout 2023, the company posted consolidated revenue of 258.94 trillion won (193.98 billion USD), down 14.32% YoY. The company generated operating profit of 6.57 trillion won ($4.92 billion approx.), down 84.85% YoY.
MX and Network businesses posted consolidated revenue of 25.04 trillion won, down 6.91% YoY.
2024-01-31 09:43:00
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