Samsung Electronics' semiconductor head has made an unusual apology in person for its performance in the third quarter of 2024 that fell short of expectations.

Samsung Electronics announced its provisional business performance for the third quarter of 2024 on the 8th. According to this, sales based on consolidated financial statements increased by 6.66% compared to the previous quarter to KRW 79 trillion and 17.21% compared to the same period last year. Operating profit decreased by 12.84% compared to the previous quarter to KRW 9 trillion, but increased by 274.49% compared to the same period last year.

Despite these record-breaking sales, Samsung Electronics and investors are reportedly disappointed with operating profit, which failed to surpass the 10 trillion won mark.

Experts said that Micron's recently announced operating profit of $1.745 billion, up 85.4% from the previous quarter, and SK Hynix's expected operating profit of 20% compared to the previous quarter, which is about to announce its earnings, are evidence that the semiconductor market is on the rise, and that despite this atmosphere, Samsung Electronics' double-digit decrease in operating profit compared to the previous quarter is a disappointing performance.

In this atmosphere, Vice Chairman Jeon Young-hyun, head of the DS division, made an unusually direct apology to customers, investors, and employees.

Vice Chairman Jeon Young-hyun expressed concern over the market's expectations, saying that rather than seeking short-term solutions, he would focus on securing fundamental competitiveness and creating opportunities for a leap forward.