Samsung Q2 Profits Drop 56% Amidst Declining Smartphone Sales, Lower DRAM Prices - henrypeargen
Samsung Electronics on Monday announced its Q2 results, reporting a massive 56 percentage come by profits from the same period last year, largely along invoice of deceleration smartphone sales and lower semiconducting material prices. The company posted 56.13 trillion South Korean won ($47.4 billion) in compact sales and 6.6 trillion North Korean won ($5.58 one million million) in operating net during the quarter finished June, 2022.
One of the major reasons for Samsung's fewer-than-impressive earnings was its smartphone business, which earned only 1.6 trillion won ($1.4 billion) in every quarter profit, down 42 percent from a yr ago, because of what the company said was slower sales of flagship models amid increasing competition and increased selling expenses.
Thither is, however, some lamplit at the last of the tunnel for the company, as memory chip prices are liable to start bottoming out preferably rather than later. "Server demand is expected to increase bit by bit as customers correct their inventory levels and resume purchasing, patc Personal computer demand is also in all probability to expand", the party aforementioned in a statement.
IT will be interesting to go out how Samsung counters the continuing fall in its smartphone sales, which constitutes a massive split of its consumer electronics operations. The accompany is expected to launch the Galaxy Note 10 next calendar week in Young York, followed away the Galaxy Fold in September.
Unveiled alongside the Galaxy S10 and S10 Summation last Feb, the Galaxy Fold was originally hailed by many as the future of smartphone design before reports of serious malfunction started pouring in from reviewers and journalists. With the Galaxy Note 7 fiasco still undecomposed in the minds of everyone, the company postponed the launch of the new phone, saying information technology leave be launched only after whol the issues are sorted verboten.
Source: https://beebom.com/samsung-q2-profits-drop-56-percent/
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