Samsung realizes tough competition, says Q4 2018 earnings likely dip 28.71 percent
Korea’s Samsung acknowledged tough competition in the smartphone market as it expects to only record 10.8 trillion Korean won or USD 9.67 billion in the last three months of 2018.
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| Galaxy Note9 |
Q4 2018 earnings likely dip 28.71 percent
The figure was 28.71 percent down than what it posted in the same period in 2017, and 18.18 percent less than the 13.2 trillion won projected by analysts.
Consolidated sales for the fourth quarter may also suffer by 10.57 percent to 59 trillion won.
The tech giant’s estimate was due to weaker demand seen for its smartphones. Expected decrease of orders from data centers for its memory chips business may also hurt Samsung.
In the third quarter of 2018, the company witnessed over 13 percent year-over-year decline in global smartphone shipments, data from International Data Corporation showed.
Analysts interviewed by CNBC also said Samsung was facing a tough competition amid other smartphone makers' entry to compete in the game, offering the same features and functionality.
Samsung previously said it would invest in foldable smartphones and devices that can support new high-speed internet connections. Let’s hope the company can bank on this to up the smartphone battle.
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Source: CNBC
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