Samsung GALAXY S10. A few weeks after the first warnings were made regarding the problems that the Samsung company has, now all this information is officially confirmed, and the company is suffering on the stock market. Announcing last night the financial results for Q1 2019, the Samsung company announced that the Samsung GALAXY S10 recorded very good sales, but the company's profit is still in free fall.
Samsung GALAXY S10. According to the financial results announced last night by the Koreans, the profit fell by 60% compared to the same period last year, from 13.4 billion dollars to 5.3 billion dollars. Samsung said it sold 78 million phones in Q1 2019, with the Samsung GALAXY S10 having very good sales, but even so the profit could not be kept at the same value as last year, problems in other divisions contributing to this.
Samsung GALAXY S10. GOOD sales, FALLING profit
Samsung GALAXY S10. The main problem with the decrease in the profit of the Korean company is based on the fact that the demand for memory chips dedicated to electronic products has dropped substantially, hence the Koreans are making a lot of money. The Samsung GALAXY S10 could not even compensate for the substantial drop in demand for screens from the Samsung company, especially from Apple, which sold fewer iPhones than expected.
Samsung Electronics posted KRW 52.4 trillion in consolidated quarterly revenue and KRW 6.2 trillion in quarterly operating profit. First quarter earnings were weighed down by the weakness in memory chips and displays, although the newly launched Galaxy S10 smartphone logged solid sales. For the second half of 2019, the Company expects memory chip demand for high-density products to increase, but uncertainties in the external environment will persist. A further recovery is seen for the Display Business as demand for flexible screens is set to rise on new smartphone launches.
Samsung GALAXY S10. The expectations regarding this new series of phones seem to be fulfilled, but unfortunately, this does not really help the Korean company to maintain its receipts and profit at the levels recorded during the last year. For the next fiscal quarters, Samsung expects to increase the demand both for memory chips dedicated to PCs/smartphones, but also for screens, while Samsung GALAXY S10 sales are expected to continue to grow.
Samsung GALAXY S10. The new series of mobile phones managed to surpass the previous series in sales thanks to the cheaper E version, but the differences are not quite as big as some analysts expected.
