Samsung says Galaxy S10 sold better than the company’s plummeting profit suggests

Samsung Electronics warned investors that it would earn less than money in this quarter and, indeed, the company only reported first-quarter earnings showing that earnings fell by 60 percent compared to last year, from 15.64 trillion won (approximately $ 13.4 trillion) to only 6.2 trillion won (approximately $ 5.3 trillion).

But unlike Google today, the company does not blame its expensive phones for anything at all: Samsung says that the Galaxy S10 line sold well, with the company sending 78 million phones in total (as well as 5 million tablets) in the quarter, and that any weakness in the phones can be explained by their low-end and mid-range models that cannibalize the sales of Galaxy models last year. (A big part of Samsung's new phone strategy is bringing attractive features to its mid-range phones, such as the new A-series.)

Samsung also expects to send a few more phones next quarter

. the reasons for the decrease are mainly the same as in the previous quarter: the demand for memory chips, which is the real bread of Samsung, as well as the lower demand for screens. The company says things should improve in the second half of the year, with more demand for flash memory on servers, as well as smartphones with 256 GB of storage and more, and the company says it is actually sending more processors and modems even as the demand for their image sensors are slowing down, the latter due to the "weak seasonality of the smartphone"

Samsung did not initially mention its foldable folding phone Galaxy Fold in the profit call, but he did answer a question on the phone saying that the company would announce an updated release schedule "within the next few weeks". It is possible that the date is in the second half of the year, depending on how you interpret this passage in your press release (bold):

For the second half despite the intense competition in the market, Samsung It expects smartphone sales to rise, led by new models in all segments, from the Galaxy A series to the Galaxy Note in the midst of strong seasonality. In the premium segment, the company will reinforce its leadership through the new Galaxy Note as well as its innovative products such as 5G and folding smartphones.

More generally, the company predicts that the increase in demand for flexible displays may help its screen business due to some unspecified "new smartphone launches", but also that the demand for flexible displays may be "soft" " for now. The company's screen business is betting on other smartphone screens that are not flexible to help the division "bounce".

Here is the sidebar of the company if you want to further examine your earnings.

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