Samsung Electronics reported that its revenue rose 4 percent to 76.8 trillion won during the third quarter of 2022.
Samsung said the company expects annual revenue to surpass the historical high set in 2021 with record revenue in each of the respective quarters so far this year.
Samsung, the world’s top maker of memory chips and smartphones, said operating profit declined 23 percent from the previous quarter to KRW 10.85 trillion ($7.7 billion) for the July-September quarter, from 15.8 trillion won a year earlier, the first year-on-year decline in nearly three years.
The Semiconductor businesses posted KRW 23.02 trillion in revenue and KRW 5.12 trillion in operating profit in the third quarter.
SDC posted KRW 9.39 trillion in revenue and KRW 1.98 trillion in operating profit for the third quarter.
MX and Networks businesses posted KRW 32.21 trillion in revenue and KRW 3.24 trillion in operating profit for the third quarter.
The Visual Display and Digital Appliances businesses posted KRW 14.75 trillion in revenue and KRW 0.25 trillion in operating profit in the third quarter.
In the third quarter, Samsung Electronics’ capital expenditure reached KRW 12.7 trillion, including KRW 11.5 trillion spent in the DS Division and KRW 0.5 trillion in SDC. The total for the January-September period is KRW 33 trillion, with KRW 29.1 trillion allocated to the DS Division and KRW 2.1 trillion to SDC.
The full-year capital expenditure for 2022 is expected at approximately KRW 54 trillion, including KRW 47.7 trillion allocated to the DS Division and KRW 3.0 trillion to SDC.
This year’s capital expenditures in the Memory Business will focus on P3 and P4 infrastructure, as well as on advanced technologies, such as EUV, to enhance the Company’s market competitiveness.
Investments in the Foundry Business will center on expanding the production capability at the sites in Taylor and Pyeongtaek to address demand for advanced processes using EUV, in line with Shell-First strategy.
For SDC, investments will focus on expanding the capacity of flexible displays for mobile products and improving the efficiency of large QD-OLED panel production.
Samsung said the Networks Business saw an improvement in earnings, led by overseas businesses, including securing a deal with Comcast. The Networks Business will sustain revenue growth by expanding overseas businesses and reinforcing technology leadership in core 5G chips and vRAN (virtualized Radio Access Network) solutions.