Corporate
Samsung says Q3 operating profit down 31p on-year
South Korean tech giant Samsung Electronics on Thursday, 27 October said its Q3 operating profits were down 31.39pc year on year after a global economic downturn hit demand for consumer electronics.
Earnings in its crucial memory chips division dropped, the firm said in a statement, adding that “demand for consumer products remained weak”.
Operating profit for July to September 2022 fell to 10 trillion won $7 billion, down from 15.8 trillion won for the same period last year, the firm said.
The results are the first year-on-year decline in profit in nearly three years for Samsung Electronics, the world’s biggest smartphone maker.
But the company said it had seen an increase in sales, which were up by 3.79pc from the same period last year to 76 trillion won.
The world’s biggest memory-chip maker is the flagship subsidiary of the giant Samsung group, by far the largest of the family-controlled empires known as chaebols that dominate business in South Korea, Asia’s fourth-largest economy.
The conglomerate is crucial to the country’s economic health — its overall turnover is equivalent to a fifth of the national gross domestic product.
Until the Q3 of this year, Samsung, along with other tech companies, significantly benefited from strong demand for electronic devices — as well as chips that power them — during the pandemic.
But the global economy is now facing multiple challenges, including increasing inflation, rising interest rates and the growing threat of a broad debt crisis.
The situation has been exacerbated by Russia’s invasion of Ukraine — which has spurred a surge in energy prices and pushed global food prices up — along with China’s adherence to a strict zero-Covid policy.
“In 2023, demand is expected to recover to some extent, but macroeconomic uncertainties are likely to persist,” Samsung Electronics said.
“In the Memory Business, after a dampened first half, demand is expected to rebound centering on servers as data center installations resume,” it added.
Analyst Park Sung-soon of Cape Investment & Securities told the news media he did not expect consumer demand for tech products to recover until the second half of 2023.
“So the focus for Samsung will be adjusting its supply rather than relying on demand recovering anytime soon,” he said.
Samsung also said it had benefited from the strength of the US dollar against the Korean won, “resulting in an approximately 1.0 trillion won company-wide gain in operating profit compared to the previous quarter”.
Parent company Samsung Group announced Thursday that heir and de facto leader Lee Jae-Yong — who received a presidential pardon in August over a fraud conviction — would be promoted to chairman.
The vast majority of the world’s most advanced microchips are made by just two companies — Samsung and Taiwan’s TSMC — both of which are running at full capacity to alleviate a global shortage.
The supply of memory chips has become an issue of global geopolitical significance recently, with leading governments scrambling to secure supplies.
That was demonstrated in May when US President Joe Biden kicked off a South Korea tour by visiting Samsung’s sprawling Pyeongtaek chip plant.
Russia’s invasion of Ukraine has “further spotlighted the need to secure our critical supply chains”, Biden said at the plant, underscoring the importance of bolstering technology partnerships among “close partners who do share our values”.
Samsung employs about 20,000 people in the United States and work is underway to build a new semiconductor plant in Texas, scheduled to open in 2024.
The US also recently introduced new measures to limit China’s access to high-end semiconductors with military uses, a move that has wiped billions from chip companies’ valuations worldwide.
China Correspondent: A new chapter in Guangxi’s tourism development unfolded on Dec 2, as a themed flight from Beijing touched down at Nanning Wuxu International Airport.
The flight’s arrival marked the official launch of a joint tourism initiative, “The Next Station, Guangxi,” by the Department of Culture and Tourism of Guangxi Zhuang Autonomous Region, Air China, and China Daily, aiming to showcase Guangxi’s spectacular karst landscapes, ethnic traditions, and local charm to global travelers.
Air China’s Flight CA1311 functioned as a “flying cultural experience of Guangxi”, giving passengers an immersive sneak peek into the region’s unique appeal.
From check-in to landing, travelers were surrounded by Guangxi’s cultural elements: dedicated service counters with Guangxi-themed backdrops for photo opportunities, custom-made bilingual boarding passes that doubled as collectibles, and cabin interiors adorned with stickers featuring the region’s iconic landscapes and ethnic patterns.
In-flight entertainment systems looped promotional videos, allowing passengers to glimpse the “unmatched natural and cultural beauty” awaiting them in Guangxi.
Over the next seven days, a delegation of international and domestic travel influencers, vloggers, and media journalists will embark on an exploratory tour of Guangxi’s key attractions.
Their itinerary includes experiencing the vibrant atmosphere of Nanning’s night markets, where the city’s “night economy” thrives; visiting Hechi’s Bama — a world-renowned “longevity town” — to uncover the secrets of healthy living.
Then they’ll travel to Yizhou in Hechi, the hometown of legendary folk singer Liu Sanjie, to listen to melodious local mountain songs; and explore Guilin’s iconic karst mountains and rivers, which have inspired poets and artists for centuries.
Beyond the Beijing-Nanning route, tailored themed flights connecting Shanghai and Guangzhou to Guangxi are also in the pipeline. These routes will create seamless transfer options for international travelers via China’s major aviation hubs, further facilitating access to the region.
To enhance the appeal of traveling to Guangxi, a series of practical incentives has been rolled out.
Individual travelers who book Air China transfer tickets to Guangxi by December 31, 2025, can enjoy an exclusive 4 to 8 percent discount for travel before March 26, 2026. Specific terms and conditions are available through Air China’s official channels.
Travel agencies can access subsidies until January 5, 2026. Eligible firms organizing inbound groups via charters or block bookings qualify for up to 70,000 yuan ($9,660) per charter, or 700 yuan per person for groups of five or more from overseas and China’s Hong Kong, Macao, and Taiwan regions.
Corporate
A Unique Initiative by JCI Dhaka West to Promote Inclusion of Specially-Abled and Disabled Youth
A four-day special workshop titled Project Third Eye 2.0 was jointly organized by Junior Chamber International (JCI) Dhaka West and the Dhaka University Support for Students with Disabilities, with the objective of ensuring inclusion of specially-abled individuals in various sectors of society.
Project Third Eye 2.0, emphasized on developing the professional skills of specially-abled and disabled youth, empowering them to become capable and strong leaders in society. The core objective of this initiative is to increase employment opportunities and ensure accessibility for specially-abled and person with disability to promote inclusive recruitment processes—ultimately helping remove widespread stereotypes and misconceptions in society.
The project Third Eye launched in 2024. The closing ceremony of this project was held on 18 October 2025 (Saturday) at the Faculty of Arts Building, University of Dhaka. A total of 25 visually-impaired, physically, and disabled students from the University of Dhaka and the National University participated in the program.
Certificates were awarded to all trainees, and special honors were presented to everyone involved in organizing the event by Md Altamis Nabil, JCI Bangladesh 2025 National Executive Vice President. He stated that JCI Bangladesh believes Project Third Eye 2.0 is not just a local initiative—it is a sincere commitment to achieving the UN Sustainable Development Goals (SDGs) and a proactive step toward building a more inclusive world. He highly appreciated and praised this remarkable initiative of JCI Dhaka West.
Under the guidance and patronization of Sujaur Rahman Emon, 2025 Local President of JCI Dhaka West, all activities of the project were successfully executed. He stated that at JCI Dhaka West, we believe that the greatest wealth of the world lies within humanity itself. Project Third Eye 2.0 is not merely a training program; it is an effort to unlock the indomitable confidence and hidden potential of specially-abled youth. The skills they have acquired will undoubtedly illuminate their professional journey and mark a strong step toward building an equitable and inclusive society.
Project Director Ahmed Wazedul Haque Khan said, “Project Third Eye 2.0 is not just a workshop or a project; it is a vital movement in transforming the corporate culture of Bangladesh. We believe that physical or any other limitations can never limit one’s dreams. These young individuals are now prepared to lead corporate sectors based on their talent and merit.”
Under the supervision of Audrika Eshna Purbasha, Local Vice President of JCI Dhaka West, Project Director Ahmed Wazedul Haque Khan, and Project Lead Jobayer Ahmed accomplished and carried out the project with tremendous success.
The project and training workshop were successfully completed with the support and sponsorship of Youth Upskill Network, GearLaunch, Global Travels, NextGen, National University Skill Development Forum (NUSDF), Savory and Ignite Global Foundation.
It is worth mentioning that Junior Chamber International (JCI) is an organization for enthusiastic young people aged 18 to 40. Its headquarters is located in St. Louis, Missouri, United States. JCI operates in more than 120 countries with over 200,000 active members.
For the fourth consecutive year, Junior Chamber International (JCI) Dhaka West has organized Project White Cap 4.0, an initiative designed to provide ICT education to underprivileged and madrasa students who remain on the margins of mainstream opportunities.
On 1 October 2025, a total of 40 students and teachers from a madrasa and orphanage located in Asian City under Dakshinkhan Police Station, Dhaka, were brought under this training program.
To ensure access to ICT education for madrasa students, JCI Dhaka West launched the unique initiative titled “Project White Cap” in 2022. Keeping pace with rapid technological advancement, this year’s project curriculum included several new additions. Alongside the basic ICT modules, advanced topics such as Canva and AI integration were incorporated. Through this one-week program, each student received hands-on ICT training and was meaningfully connected to the digital world.
Under the guidance and overall support of Sujaur Rahman Emon, Local President of JCI Dhaka West 2025, the complete project activities were successfully executed. He stated that this initiative by JCI Dhaka West is a social responsibility effort aimed at developing ICT skills among underserved students. Like previous years, this year’s program was completed with great success.
Masud, JCI Dhaka West’s Training Commissioner for 2025, served as the Project Director, while Farah Sayed Abdul Bari, a General Member of JCI Dhaka West, served as the Project Lead.
The project trainers were Saddam Hossain, Editor of Jagoran News, and Masud, Sales Lead at Oleyn AI.
Project Director Masud stated, A significant portion of our country’s students belong to the madrasa community. Due to various limitations, they often remain deprived of digital opportunities in this era of digitalization. Our primary goal was to teach them the basics of digital literacy, and we have successfully achieved that. To ensure sustainability, we are setting up a computer at the madrasa so that students can continue practicing digital literacy even after the project ends.
It is worth noting that Junior Chamber International (JCI) is an organization of enthusiastic young individuals aged 18 to 40. Its headquarters is located in St. Louis, Missouri, USA. JCI operates in more than 120 countries with over 200,000 active members. In Bangladesh, there are currently more than 40 local chapters, among which JCI Dhaka West is one of the oldest and most prominent chapters.
You must be logged in to post a comment Login