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Samsung’s third-quarter earnings outlook bleak on poor global chip demand

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The earnings outlook for the third quarter for Samsung Electronics and SK hynix, the world’s two largest chip makers, remain largely grim due to a recent decline in global demand for memory chips, an analysis of industry data showed on Sunday.



According to Yonhap Infomax’s analysis of earnings forecasts for the two companies by securities firms over the past month, Samsung and SK hynix were expected to post operating profits of 12.8 trillion won ($9.07 billion) and 2.59 trillion won. on a consolidated basis during the June-September Period respectively.

Samsung and SK hynix’s operating profit forecasts represent 18.6 percent and 37.8 percent declines from their respective third-quarter results from a year ago.

The expected decline in earnings was largely attributed to the effects of mounting global inflationary pressures that held back global demand for memory chips.

Do Hyeon-woo, a chip industry analyst at NH Investment & Securities Co, estimated that Samsung’s DRAM shipment volume would decline 3 percent in the third quarter and expected the average retail price (ASP) of chips to fall 17 percent.

Eo Gyu-jin, an analyst at DB Financial Investment Co., predicted that the companies’ profits will recover from the fourth quarter of 2023, after an expected rebound of the global chip industry in the second quarter of next year.

Samsung expanded its market share in the global semiconductor industry in the second quarter, retaining the top spot, a research report showed.

Samsung’s chip revenues for the April-June period hit a record $20.3 billion in the quarter thanks to solid demand for servers, accounting for 12.8 percent of the global total of $158.1 billion, according to research firm. omdia.

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