Q1 Earnings from Samsung in As the company predicted itself, Do not make beautiful reading.
The Korean giant saw three-month revenue fall 13 percent year-on-year to 52.4 trillion won (about 45 billion dollars). At the same time, operating profit for the first quarter of 2019 was 6.2 trillion won, or 5.33 billion dollars, but 60 percent lower than the same period last year. Ouch.
It is recognized that the first quarter of last year from Samsung was a popular quarter, but these declines are huge.
What's going on?
Samsung said the sales of its new Galaxy S10 smartphone were "solid" but acknowledged that its memory chip and display companies, which are often the most lucrative units of the company, did not perform well and played down the overall results of the company. Despite the obvious sales of S10, the mobile phone division saw a decline in income "as competition intensified." At the same time, the display business recorded a loss "due to lower demand for flexible displays and increased market supply for large displays."
All this is on par with what analysts expect That Q1 earnings outlook is overly optimistic Made earlier this month.
The near future does not seem terribly rosy.
Samsung said the overall memory market will remain slow in the second quarter, although demand for DRAM is expected to recover to some extent. Not much is expected from the change in its own display business, although "demand for smart OLED panels for smart phones" is expected, as the company plans to develop a certain focus.
On the consumer side, where most readers know Samsung's business better, Samsung expects to see improved sales in the second quarter, where the purchase is higher. It also tore apart the new Note 5G devices – which will likely be limited to Korea, as we suspect – and This phone is foldable.
Galaxy Fold was postponed after some journalists found problems with their TechCrunch review modules Brian Daphne It was fine He even enjoyed using it. There is no specific mention in the quarterly report of the new launch date but it seems that the release will be in mid-June, that is the assumption What AT & T says to customers is accurate. But we will need to wait a few weeks until it is confirmed, apparently.