Samsung reveals weakest earnings report since Note 7 fiasco
Samsung reveals weakest earnings report since Note 7 fiasco
The South Korean tech behemothic'southward earnings dropped sharply at the stop of 2018
Samsung'due south latest earnings report reveals that the visitor'south Q4 2018 operating profit is down 29 pct year-over-yr, the South Korean tech behemothic'south most significant downturn since its difficulties with the Note 7.
That said, Samsung's operating profits fell within the company's guidance, amounting to 10.8 trillion won (roughly $12.8 billion CAD). The visitor'due south acquirement also dropped 10 per centum when compared to a year before, coming to 59.27 trillion won (nigh $70 billion CAD), a number slightly ahead of the company'south guidance.
Samsung says that its turn down in earnings is due to lower demand for retentiveness chips, the visitor'due south largest profit commuter. Further, the South Korean company cites increased contest in the mobile display industry every bit a reason for its profit decline. Similar to Apple, Samsung besides blames a lower overall demand for smartphones equally a reason for the downturn.
While the S9/S9+ and Note 9 were well-received smartphones, both devices were also very similar to their respective predecessors. As a event, this likely led to fewer consumers observing a reason to upgrade to Samsung's latest flagship devices.
"Samsung expects need in the Memory Business concern to remain weak in the beginning quarter due to seasonality and macroeconomic uncertainties as well as inventory adjustments by major customers. For OLED, profitability is likely to decline, weighed on past tiresome sales of premium smartphones and rising competition with LTPS LCD products," writes Samsung in the company'due south latest earnings report.
The company expects its Samsung Milky way S10 flagship smartphone, which is set to be revealed in Feb, will "aid prop upward sales and business organization performance in the coming months."
In its earnings written report, Samsung also confirmed that its adjacent flagship device is set to be called the Galaxy S10.
In February, Samsung is expected to reveal multiple versions of the Milky way S10 also every bit the company's often-rumoured foldable smartphone.
Source: Samsung
Source: https://mobilesyrup.com/2019/01/31/samsung-weakest-earnings-since-note-7-q4-2018/
Posted by: childfrichis.blogspot.com
0 Response to "Samsung reveals weakest earnings report since Note 7 fiasco"
Post a Comment