Samsung sees 95% drop in profits for a second consecutive quarter - eviltoast
Today, Samsung posted its Q2 2023 financial results. The report says Samsung's profits have dropped considerably compared to last year.

Samsung sees 95% drop in profits for a second consecutive quarter::Today, Samsung posted its Q2 2023 financial results. The report says Samsung’s profits have dropped considerably compared to last year.

  • Balder@lemmy.worldEnglish
    11·
    1 year ago

    Yet the article says Samsung attributes that to the phones market?

    Samsung attributes this loss in profit to the decline in smartphone shipments due to “high interest rates and inflation.”

    Something else that doesn’t seem to bode well is the fact that Samsung believes the boost that came from the launch of the Galaxy S23 series has faded.

    And expects a comeback because it’s launching new models…

    The manufacturer highlights the launch of the Galaxy Z Flip 5 and Galaxy Z Fold 5. It also believes that the smartphone market will make a return.

    This seems to indicate that most variable profit comes from the smartphones market.