South Korean electronics maker Samsung Electronics’ net profit fell 37.8% year-on-year to $4.3 billion.
South Korean electronics maker Samsung Electronics’ net profit fell 37.8% year-on-year to 5.84 trillion won (about $4.3 billion) in the past quarter, the company said in a statement.
The company’s revenue fell 12.2% to 67.4 trillion won ($49.9 billion) in the period under review. Operating profit was 2.43 trillion won ($1.8 billion), down 4.5 times year-on-year.
The company previously forecast third-quarter revenue of 67 trillion won ($49.6 billion) and operating profit of 2.4 trillion won ($1.77 billion).
Samsung predicts demand in the smartphone market will recover next year as consumer sentiment stabilises, with the premium segment also expected to continue.
Samsung is a multinational technology company headquartered in South Korea. It’s known for producing a wide range of electronic products, including smartphones, televisions, appliances, and more. Samsung is one of the world’s leading smartphone manufacturers, and it’s a major player in the global technology industry.
The Samsung Gangnam store will focus on Generation Z consumers.
The retail space is located in Centro Comercial Perisur, one of the largest shopping mall in Mexico City.
Inditex Group's revenue for the past year added 18% to €32.6 billion, up 15% from 2019 before the pandemic.
1,051 of 1,173 US malls hold zero ultra-luxury brands. Half of all Cartier, Chanel, Hermès, and Louis Vuitton mall stores…
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