The head of Samsung Electronics’ mobile unit predicted device demand would increase in 2024 as consumer sentiment stabilises, as the company revealed Q3 numbers.
VP of the Mobile eXperience (MX) division Daniel Araujo used Samsung’s earnings call to say competition in the premium and mass market segments is likely to intensify, while uncertainties caused by geopolitical risks are likely to remain.
The portion of flagship sales as a percentage of handset revenue increased year-on-year, raising ASP 4.6 per cent to $295 and aiding overall sales, he added.
MX and Networks revenue fell 7 per cent to KRW30 trillion ($22.2 billion).
Smartphone shipments fell 7.8 per cent to 59 million units and tablet shipments 14.3 per cent to 6 million units.
Araujo said new foldable tablets and wearables all showed strong sales backed by stable supplies.
Investor relations EVP Ben Suh said the company expects smartphone shipments and ASP to decrease in the current quarter, and tablet shipments to rise.
Net profit fell from KRW9.4 trillion in Q3 2022 to KRW5.8 trillion, with sales dropping 12.2 per cent to KRW67.6 trillion.
Chip unit revenue fell 31 per cent to KRW16.4 trillion.