Analysts: HBM Cut Samsung Foundry Losses by 41.8% in a Year

Kiwoom Securities estimates Samsung's non-memory operating losses will shrink from 6.74 trillion won ($5.1 billion) in 2025 to 3.92 trillion won ($2.95 billion) in 2026. HBM4 is the main driver, as Samsung builds its base dies on its own 4nm process, boosting utilization of advanced nodes.

• Foundry losses to fall 41.8%, from $5.1 billion to $2.95 billion
• Quarterly losses to narrow from over 2 trillion won to 777 billion won
• HBM4 base dies are made on Samsung's own 4nm process
• Utilization of 8nm and below nodes has hit maximum capacity