Samsung Electronics has reported its fourth quarter and fiscal year 2023 results, revealing that the company fell short of revenue projections, posting $51 billion as opposed to the anticipated $52 billion.

Despite not meeting predictions, Samsung's revenues still showed an increase compared to the third quarter, according to a press release by the company. The Memory department saw improved performance due to selling products at higher prices. However, earnings from memory chip prices were still significantly lower compared to 2023. In comparison with Q3 of 2023, its operating profit plunged by 77.6%. To improve profitability in the first quarter of 2021, Samsung is focusing on increasing sales of their high-value added products.

The press release also anticipates a recovery in PC and mobile demand in Q1 2024 due to signs of server and storage demand recovery heading into the new quarter. The Memory Business plans to respond to demand for cutting-edge products and improve profitability by addressing demand for High Bandwidth Memory (HBM) and AI-related server Solid State Drives (SSDs). Despite potential obstacles, content-per-box growth is expected, and server replacements and platform transitions will lead to gradual recovery.

An article by CNBC highlighted that Samsung is the world's largest maker of dynamic random-access memory chips which are predominantly found in consumer devices like smartphones and computers. However, Samsung was negatively impacted by a decline in its smartphones during 2023. Apple overtook Samsung as the world leader in smartphone shipments during 2023, holding a current market share of 20%. "Part of that was, frankly, because of a function of how the smartphone market was shifting toward the premium. That’s why Apple was doing well because they’re more concentrated on the premium, whereas Samsung has a broader breadth," said Ma from IDC.