Samsung announces profit decline of 60% in the first quarter of 2019

Registered the company Samsung on Tuesday reduced by 60% in its operating profit for the first quarter of 2019, dragged down by the prices of electronic chips, slowing demand for tea.

The company said the South Korean in a statement: the operating profit amounted to about 5.4 billion USD in the first three months of the current year, in line with estimates of $ 5.4 billion dollars which was announced earlier in the month of April of the current. As stated revenue, which decreased by 13.5% to US $ 45 million, close to the estimates for the company.

Scored the semiconductor sector the core of Samsung’s decline in operating profit by 64% to 3.524 billion dollars, while the tea sector losses amounted to $ 481 million.

She said the largest manufacturer of smartphones in the world that work in the mobile sector recorded a decline in operating profit by 40% to $ 1.97 million.

Samsung hopes to be able to its new smart phones, especially: “Galaxy Fuld” Galaxy Fold, from the revival of growth in the mobile sector. But it seems that it’s not gonna work as the company hopes, especially after he announced the postponement of the launch of the phone folding after the discovery of several problems in the screen.

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The company said that smartphone shipments have been hampered due to the reorganization carried out by the products of phones available and low. Revenue from handsets fell by 4% compared in year-on-year to $ 23.4 million.

Samsung said in a statement: “even with the strong sales of the device ‘Galaxy S’ and Galaxy S10, it has reduced profitability in the mobile phone sector [compared to last], where the intensified competition in the category of low-end phones medium specifications”.

This; he did not say Samsung on the sales figures of “Galaxy S,” but his sales force comes in the shadow of the slowdown in the smartphone market overall, as it has become difficult for phone manufacturers to make radical changes in its make them distinctive from the others.

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