Samsung says profit slid 60 percent year on year

According to the preliminary guidance, Samsung Electronics' 1Q09 operating profit fell 14%, down about 60% from the previous year, showing a struggle for chip price decline. The company issued an unexpected warning last week.

Gross sales and operating profit are expected to reach W52tr and W6.2tr, respectively. Samsung will only provide these numbers at the beginning of each quarter and will release further analysis later in the month.

Last quarter, Samsung was able to use the Galaxy S10 for only a few weeks in three months, but it was expected to help improve performance. The company expects smartphone sales to be essentially flat throughout 2019. This affects the ability to sell parts such as OLED screens and its own Galaxy phones. Meanwhile, demand for a profitable memory business is unlikely to recover until 2H09.

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