Wednesday, 18 September, 2019

Samsung Galaxy S10 sales are solid, but chip business brings profits down

After the Galaxy Fold Samsung still has big ideas about what to do with phone screens After the Galaxy Fold Samsung still has big ideas about what to do with phone
Emmett Howard | 01 May, 2019, 07:40

Samsung posted an operating profit of 6.2 trillion won (roughly $5.4 billion) - down from 15.64 trillion won (roughly $13.4 billion) last year - and quarterly revenue of 52.4 trillion won which fell 13.5% in comparison to last year's final quarter. The company saw a sharp 29% decline in profits by Q4 2018 to $10.8 billion, and profits suffered another 60% drop this last quarter. In addition to the declining profitability of its chip business, falling demand for its displays has also had an effect.

Samsung blamed the decline on "weak seasonality and inventory adjustments", noting that its memory chip sales have been hit by weak global smartphone sales and a fall in server demand.

The company's chip business is still its largest contributor however, adding 4.12 trillion won in operating profits, while Samsung's mobile business earned 2.27 trillion won.

Samsung did say that its Galaxy S10 phones sold well during the quarter. After more problems were reported with the first batch of replacements, Samsung issued a second recall, and ceased production of the Galaxy Note 7 altogether, once and for all.

The South Korean firm had spent almost eight years developing the Galaxy Fold as part of its strategy to propel growth with groundbreaking gadgets.

Greg Roh of HMC Securities & Investment projected Samsung's operating profits to continue falling in the second quarter of this year.

Samsung's operating income and revenues for the first quarter also represent decreases of 42% and 12%, respectively, compared to the prior quarter.

Australian Senate candidate Steve Dickson quits over strip club videos
However, it was broadcast for the first time by The Nine Network's A Current Affair on Monday without Al Jazeera's permission. In a statement issued on Tuesday, Dickson said he was drunk that night and "deeply remorseful" for his actions.

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However, all that came to a surprise halt as Apple and Qualcomm agreed to drop all lawsuits against each other earlier this month. The decision was announced nearly immediately after Apple and chipmaker arranged Qualcomm in a long-running lawsuit.

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Washington reimposed sanctions on Iran's oil exports in November following the USA withdrawal from a 2015 nuclear accord. The Saudis face a tricky task to balance the market and help revive their economy while fielding U.S.

"Things might change in the third quarter when memory chip demand increases", he told AFP.

It once had a 20 percent market share of China's smartphone market but has seen that tumble to less than one percent owing to a rise in competition from local firms in that country.

Samsung, unsurprisingly, refused to refund Lee for his ruined phone.

But he was released in February previous year after several of his convictions were quashed on appeal.

It means Samsung's much-awaited foldable device "Galaxy Fold" which didn't really have the triumphant launch the Korean giant may have expected, with cracking screen left and right, may arrive in the later part of the year.

"After retrieving the device from the customer, Samsung has closely inspected the device and concluded that the damage was caused by external impact", a company spokesperson said.

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