Samsung Estimates Plunge In Operating Profits

On January 8, Samsung announced their fourth-quarter operating profit is estimated to drop nearly 30% since last year. They took Apple’s revenue forecast as a warning, blaming the plunge on decreasing memory chip demand and growing smartphone competition.

Unlike Apple’s CEO, Tim Cook, Samsung did not mention China specifically, though they hinted at macroeconomic uncertainties affecting business.

Samsung is hopeful things will turn around with the introduction of 5G and their debut of foldable smartphones.

Image Source: bmobiled

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Samsung Estimates Plunge In Operating Profits

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