Korean media: Samsung Electronics' Q2 profit plummeted by 96%, Korean netizen: Tell China we're angry

Tech 2023-07-10 20:22:45 Source: Network

Pay attention and let's explore more togetherSamsung Electronics, as a giant of Korean enterprises, is a symbol of Korea's existence.Samsung's annual profits play a crucial role in South Korea's GDP, and the latest financial report shows that Samsung Electronics' profits plummeted by 96% in the second quarter

Pay attention and let's explore more together

Samsung Electronics, as a giant of Korean enterprises, is a symbol of Korea's existence.Samsung's annual profits play a crucial role in South Korea's GDP, and the latest financial report shows that Samsung Electronics' profits plummeted by 96% in the second quarter.

Samsung's sharp decline is not surprising, as there are issues with both Samsung's chip share and mobile terminal products such as smartphones. South Korean netizens are indiscriminately throwing blame on China, attempting to vent their anger and dissatisfaction.

Samsung is the symbol and pride of South Korea. Samsung Electronics has made the chip Semiconductor industry the representative Sex industry of South Korea with its own efforts. Some people say that in South Korea, one must face three major events in life, namely birth, death, and Samsung, which is enough to demonstrate the importance of Samsung to South Korea.

South Korea has become a developed country with the sole power of the chaebol, and the quality of chaebol enterprises directly affects South Korea's national fortune. The decline of Samsung also meant a significant impact on South Korea's economy, illuminating the red light.

Samsung has released its financial report, and its second quarter profit plummeted by 96%.If the decline within a normal range is a normal reaction of the market, but 96% is not a small number, does it mean that Samsung has declined.

From a broader perspective, international inflationary pressures have always existed. Countries are facing economic weakness and inflation crises, and South Korea and Samsung are no exception. Just attributing it to external factors and causing a 96% drop is definitely not enough.

In fact, Samsung's share in China has shrunk the fastestEspecially in recent years, Samsung's performance decline in China has been visible to the naked eye. Whether it's chip semiconductors or other electronic products such as smartphones and televisions.

Samsung's decline is related to the rise of Chinese enterprises in the market. Originally, Samsung's smartphones were very popular in the Chinese market. With the exposure of quality issues with Samsung phones and the strong rise of domestic smartphones such as Huawei, Samsung seems to have no advantage.

Even Samsung's main chip business no longer has an advantage in China. The chip production lines set up by Chinese enterprises in China, represented by Semiconductor Manufacturing International Corporation, have squeezed Samsung's share, which is not caused by pure market competition but by sanctions.

The technology competition between China and the United States has been in full swing, with the White House prohibiting semiconductor companies such as Samsung and Asma from exporting to China. This policy based ban directly affects their market share in China.

Every year, there is a significant chip gap in the Chinese market, and they are not lacking in the dividends they enjoy in the Chinese market. Now without their import sources, we have to manufacture our own chips. Now Semiconductor Manufacturing International Corporation's 14nm chips are no longer a problem.

The current cooperation between South Korea and China is not as active as before,After Yoon Suk Yeol came to power, he often talked about some issues, in sharp contrast to his predecessor Moon Jae-in.

This kind of policy communication issue can also affect Samsung's profits, and South Korea should be pragmatic.In the first half of the year, Lee Jae-yong, CEO of Samsung, visited China. Compared with the high-profile visit of American entrepreneurs, Lee Jae-yong was much more low-key. He inspected the Samsung factory in Tianjin.

Lee Jae-yong, as the leader of Samsung, still hopes that Samsung will get betterHowever, he cannot completely influence Samsung's decision-making. Some of the trade issues with China are also influenced by other factors, which naturally leads to today's results.

South Korean netizens criticize China here and say they are angry. It's better to think about the future of Samsung, which is closely related to the fate of the country. As a top tier high-tech enterprise in South Korea, Samsung still needs to put more effort into technological innovation.

The main outlet for high-tech enterprises is technological innovation, as evidenced by Huawei and Xiaomi.In modern competition, high-tech enterprises never lack competitors or companies where latecomers dominate.

On the issue of profit decline caused by non market factors, we also hope that Samsung and South Korean authorities can figure out whether to protect national interests or not. We cannot sacrifice our own interests by sacrificing the health of others for the sake of their own country, as there is still a natural complementarity in economic cooperation between China and South Korea.

The China South Korea Free Trade Area and the Asia Pacific Free Trade Area are all favorable policy conditions for cooperation between China and South KoreaI hope the South Korean side can become pragmatic.

Conclusion:

The once top tier Samsung has now become a company with a sharp drop in profits of 96%, which is seen as a joke in the industry, even hoping that Samsung will fall off the altar as soon as possible to make room for them.Samsung should also reflect on what aspects are hindering Samsung's future profits. China will always be an open market.

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