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Home / Business / Samsung faces a 60 percent decline in profits and plans to continue folding phones

Samsung faces a 60 percent decline in profits and plans to continue folding phones



A few weeks ago, Samsung warned investors that Q1 earnings would fall 60 percent from the same period in 2018. Now the detailed report has arrived, confirming this forecast with operating income of $ 5.4 billion, down 23 percent from the memory chip business. In the areas of mobile and consumer electronics, Samsung also suffered lower losses.

The company claims, "the newly launched Galaxy S1

0 smartphone posted solid sales." Along with the mid-range A series, market demand is expected to rise slightly in the next quarter, even as prices fall.

However, as soon as the article, which was not mentioned in the report, is no longer mentioned, the now belated Galaxy Fold is the future of foldability. It is still expected that Devices will increase the profit in its display department. Collapsible devices, along with the Galaxy Note and 5G, are expected to "strengthen" their leadership in premium smartphones. The profit call is still ongoing, if there are any noteworthy news, we will update this post.

Update : In response to a question, Samsung executives said they would announce a new launch date for the Galaxy Fold over the next few weeks. They still believe that it will find a place as a premier appliance for consumers looking for a new kind of experience, and their belief that it will create a new category of appliances has not changed.


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