Samsung Reports Decline in Profit but Anticipates Business Improvement Driven by Chips 

A visitor looks at Samsung Electronics Co.'s new Galaxy S24 series smartphones at a Samsung showroom in Seoul, South Korea, 31 January 2024. (EPA)
A visitor looks at Samsung Electronics Co.'s new Galaxy S24 series smartphones at a Samsung showroom in Seoul, South Korea, 31 January 2024. (EPA)
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Samsung Reports Decline in Profit but Anticipates Business Improvement Driven by Chips 

A visitor looks at Samsung Electronics Co.'s new Galaxy S24 series smartphones at a Samsung showroom in Seoul, South Korea, 31 January 2024. (EPA)
A visitor looks at Samsung Electronics Co.'s new Galaxy S24 series smartphones at a Samsung showroom in Seoul, South Korea, 31 January 2024. (EPA)

Samsung Electronics on Wednesday reported an annual 34% decline in operating profit for the last quarter as sluggish demands for its TVs and other consumer electronics products offset hard-won gains from a slowly recovering computer chip market.

The South Korean technology giant said it expects its business to improve throughout 2024, forecasting larger demands for semiconductors that power artificial intelligence features increasingly used in smartphones, personal computers and other products. However, macroeconomic uncertainties could continue to affect its business in the near-term.

Samsung’s operating profit was measured at 2.8 trillion won ($2.1 billion) for the three months through December, compared to 4.3 trillion ($3.2 billion) from the same period last year. Its operating profit for the full year 2023 was at 6.5 trillion won ($4.8 billion), which marked an 85% decline from 2022 and represented the company’s lowest since 2008, when global markets were weathering a financial crisis.

While the company’s semiconductor division posted a loss of 14.9 trillion won ($11 billion) in 2023, the losses narrowed during the fourth quarter, with the DRAM business returning to profit. The company said in October that it plans to more than double its production capacity of advanced high-bandwidth memory chips in 2024 to respond to demands created by AI.

“In 2024, the memory business expects the market to continue to recover despite various potential obstacles, including interest rate policies and geopolitical issues,” Samsung said in a statement.

The company is also focused on boosting its sales of its latest smartphone, the Galaxy S24, which is built with an array of new features enabled by AI, including live translation during phone calls in 13 languages and 17 dialects.



Google Tests Verified Check Marks in Search Results

A logo of Google is seen on the wall during the groundbreaking ceremony for Malaysia's first Google data center in Kuala Lumpur, Malaysia, 01 October 2024. (EPA)
A logo of Google is seen on the wall during the groundbreaking ceremony for Malaysia's first Google data center in Kuala Lumpur, Malaysia, 01 October 2024. (EPA)
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Google Tests Verified Check Marks in Search Results

A logo of Google is seen on the wall during the groundbreaking ceremony for Malaysia's first Google data center in Kuala Lumpur, Malaysia, 01 October 2024. (EPA)
A logo of Google is seen on the wall during the groundbreaking ceremony for Malaysia's first Google data center in Kuala Lumpur, Malaysia, 01 October 2024. (EPA)

Alphabet's Google is testing showing check marks next to certain companies on its search results, a company spokesperson said on Friday, in a move aimed at helping users identify verified sources and steer clear of fake websites.

Fraudulent websites impersonating official businesses or services could creep up in online search results, leading users to view false information about the business, deceiving users and potentially harming the brand.

"We regularly experiment with features that help shoppers identify trustworthy businesses online, and we are currently running a small experiment showing checkmarks next to certain businesses on Google," the spokesperson said.

Google already uses automated systems to identify pages with "scammy" or fraudulent content and prevent them from showing up in the search results.

The Verge reported the development earlier on Friday, adding that it spotted blue verified checkmarks next to official site links for companies including Microsoft, Meta and Apple on search results.

Only some users were able to see the feature, the Verge said, indicating Google has not rolled out the test widely yet.