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Samsung Electronics warned traders it was going to make a lot much less cash this quarter, and certain sufficient, the corporate simply reported first-quarter earnings that present income slid 60 p.c in comparison with final yr, from 15.64 trillion received (roughly $13.four billion) to only 6.2 trillion received (about $5.three billion).

However not like Google earlier right now, the corporate’s not blaming its costly telephones for something in anyway — Samsung says the Galaxy S10 lineup truly bought nicely, with the corporate delivery 78 million telephones total (in addition to 5 million tablets) within the quarter, and that any weak point in telephones may be defined by its low and mid-range fashions cannibalizing gross sales for final yr’s Galaxy fashions. (A giant a part of Samsung’s new telephone technique is bringing sizzling options to its mid-range telephones, like the brand new A-series.)

Samsung’s anticipating to ship barely extra telephones subsequent quarter, too.

As an alternative, the acknowledged causes for the decline are primarily the identical as final quarter: falling demand for reminiscence chips, which is Samsung’s true bread and butter, in addition to decreased demand for shows. The corporate says issues ought to enhance within the second half of the yr, with extra demand for flash reminiscence in servers, in addition to smartphones with 256GB of storage and up, and the corporate says it’s truly delivery extra processors and modems whilst demand for its picture sensors are slowing — that final one attributable to “weak smartphone seasonality.”

Samsung hasn’t (but) talked about its beleaguered Galaxy Fold foldable smartphone on the earnings name. It does predict that elevated demand for versatile screens might assist its show enterprise attributable to some unspecified “new smartphone launches,” but additionally that demand for versatile shows could also be “delicate” for now. The corporate’s show enterprise is banking on different, non-flexible smartphone screens to assist the division “rebound.”

Right here’s the corporate’s slidedeck when you’d wish to peruse its earnings additional.


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Samsung says Galaxy S10 bought higher than the corporate’s plummeting revenue suggests 1

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