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_B@lemmy.worldEnglish
    371·
    11 months 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…

    • Balder@lemmy.worldEnglish
      11·
      11 months 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.

    • Corkyskog@sh.itjust.worksEnglish
      5·
      11 months ago

      I was just in a vacation rental looking at a Samsung mini-split AC and wondering if it was good or not haha.

      • ramjambamalam@lemmy.caEnglish
        3·
        11 months ago

        Their washing machines and dryers aren’t great compared to LG, so I would be suspicious of their ACs.