End of the unveiling of Galaxy Z Fold5, Galaxy Z Flip5 and other new phonesUnpacked 2023 eventAfterwards, Samsung also announced its financial results for the second quarter of fiscal year 6 ending at the end of June this year, with revenue reaching 2023 trillion won (about 60.01 billion US dollars), a decrease of about 470% compared with the previous quarter, and a much lower than 6 trillion won (about 77.2 billion US dollars) in the same period last year. Net profit reached 594 billion won (about 6700 million US dollars), a slight increase from the previous quarter, but also much lower than 5.27 trillion won (about 14.1 billion US dollars) in the same period last year.
Samsung attributed the decline in profits to a decrease in demand in the overall smartphone market, which led to a decline in overall smartphone shipments. In addition, the popularity of the Galaxy S23 series launched in the first quarter declined, which significantly affected overall revenue. As a result, the revenue of its MX mobile business unit fell from 31.82 trillion won (about US$237 billion) in the previous quarter to 25.55 trillion won (about US$200 billion).
Samsung is expected to attract consumers and continue to expand the market for foldable phones with its recently released Galaxy Z Fold5 and Galaxy Z Flip5. However, the new phones, while retaining the same design, feature hardware and software upgrades and a new hinge design for enhanced durability. With many in the market hesitant to see the arrival of this new form factor foldable phone, it remains to be seen whether it will successfully attract a wave of consumers looking to upgrade their phones.
On the other hand, Samsung's DS Semiconductor Business and Device Solutions Division saw an increase in overall revenue due to increased demand for components such as memory. Compared with 13.73 trillion won (approximately US$102 billion) in the previous quarter, its revenue in the second quarter increased to 13.73 trillion won (approximately US$115.3 billion). However, its overall loss still ranged from 4.36 trillion won to 4.58 trillion won (approximately US$34 billion) as it will focus on high-value-added products such as DDR5 and LPDDR5 memory modules in the future.
