Samsung reported a 34.57% drop in fourth-quarter operating profit from a year ago to $2.1 billion, in line with its earlier guidance. Revenue for the quarter fell 3.8% to $50.9 billion, also meeting guidance. Samsung's semiconductor business saw a record annual loss of $11.1 billion for 2023 due to weak global demand. Samsung expects moderate profit improvement in the first half of 2024 and a stronger recovery in the second half as memory chip prices and demand rise. Samsung's smartphone sales and profit declined due to the fading effects of new models, and it aims to boost premium sales with the new Galaxy S24 launch.