Samsung reports big fall in profit but expects Galaxy S10 to ‘prop up’ performance

Samsung has submitted its earnings reports in accordance with the guidelines as it occurs every quarter. However, the difference in this quarter is that the guidance is unexpectedly bad, and as expected, the company 's 10.8 trillion won ($ 9.7 billion) operating profit fell 29% year – on – year.

Samsung Electronics' earnings were largely influenced by the decrease in demand for memory chips, which have the largest profit. Samsung Electronics' earnings fell 10% from a year earlier to 59.27 trillion won ($ 53.3 billion), a decline in smartphone shipments and intensified competition for mobile displays. The company is not expected to see an increase in memory demand this quarter, and warns that overall performance will weaken as smartphone sales decline sharply.

Due to a decline in the previous quarter, Samsung is reporting financial results in 2018, and the Galaxy S10's key products, confirmed in the report, "will support sales and business performance in the coming months." Foldable and 5G devices are also designed to promote "sustainable growth" in challenging markets. This year, when the S9 is not selling well, Samsung needs a hit.

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