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Samsung reports a big drop in profits but expects the Galaxy S10 to support



Samsung Electronics has changed its earnings report according to its instructions, as it happens every quarter. However, this quarter's difference is that the guidelines were unexpectedly bad and, as predicted, the company's 10.8 trillion won (~ $ 9.7 billion) operating profit fell by 29 percent compared to the previous year. Revenue fell 10 percent from the previous year to $ 59.27 trillion ($ 53.3 billion).

Samsung says that revenue was mainly driven by the decline in demand for memory chips, usually its biggest profit driver, as well as the slowdown in smartphone shipments and increased competition for mobile displays. The company will also not expect the demand for memory to be picked up this quarter, and warns of weaker performance for the entire year, mainly by selling a smartphone.

The fall of the last quarter was not enough to stop Samsung's financial results for the whole 2018, and the company believes that the upcoming Galaxy S10 – whose name is confirmed in this report – will help "boost sales and business performance in the coming months. 'Folding and 5G devices are also designed to' deliver sustainable growth 'in a otherwise challenging market; With the S9 unable to sell well, Samsung this year needs to hit.


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