January 31, 2024Anmol Nagpal

Samsung sees tech devices demand recovering in 2024

Samsung Electronics flagged a continued recovery in memory chips and tech demand in 2024, after reporting a 34% on-year drop in Q4 profit despite a memory price rebound.

Source: Samsung

The world's biggest maker of memory chips said it expected mobile and PC makers to place more and better chips in devices as use of artificial intelligence expands.

Source: Samsung

Samsung said operating profit fell to 2.8 trillion won in October-December, versus 4.3 trillion won a year earlier, and in line with Samsung's own estimate of 2.8 trillion.

Source: Samsung

For the full year, its chip business swung to a record loss of 14.9 trillion won in 2023 from a 23.8 trillion won profit a year earlier.

Source: Samsung

Q4 profit improved from every other quarterly profit in 2023, when an unprecedented memory chip downturn caused by weak demand for gadgets that use chips caused billions of dollars in operating losses

Source: Pexels

Losses in the memory chip business shrank to 2.18 trillion won in the fourth quarter, versus a 3.75 trillion won loss in the third quarter, as memory chip prices have rebounded.

Source: Samsung

Galaxy S23 Ultra

Source: Samsung

Chinese PC and mobile makers began to restock memory chips during the quarter, after using up their own stocks for so long.

Source: Samsung