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.

  • Hapa_BEnglish
    27•2 years ago

    Lol everyone commenting it’s because THEY don’t want to buy a new phone. Samsung supplies screens, electronic internals for other companies, and a fuck ton of appliances. They don’t only make phones…

    • BalderEnglish
      5•2 years 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.

    • @marmo7ade@lemmy.worldEnglish
      3•2 years ago

      They don’t make OLED TVs. LG supplies samsung with the OLED panels for their TVs.

      For everything samsung does, they can’t do the hard things. They can’t make OLED panels, they can’t make SoCs like Apple, and they can’t make software like Google.

      Samsung does a ton of things…mid. That’s why they supply so many parts. Because the really difficult and innovative things are done by the people they sell parts to.