Samsung’s profits just aren’t what they used to be – at least when it comes to smartphones.
And they’re not the only one, but they are making an extra effort to assure the world that they do, indeed, make a bunch of money off of smartphones – downturn or not.
Profits for the first quarter of 2019 fell 60% according to the company.
This falls means that the company made billions less in profit when compared over previous periods – from $13.4 billion to $5.3 billion, to be exact.
The weakness in Samsung’s lineup comes from an unexpected place, however.
Most analysts have predicted some sort of consumer backlash to ever more expensive smartphones but the highest end headsets seem to be selling well and making Samsung a bunch of money in the process.
The mid-range and low-end headsets are not selling as well and this had a big impact on the company’s bottom line.
Where Samsung is really hurting is in its sales of displays and chips, both of which are where the company really makes its money according to The Verge.
Even with the slowdown, the company is optimistic looking forward, saying in its outlook that, “For the second half, despite intensified market competition, Samsung expects smartphone sales to increase led by new models in all segments from the Galaxy A series to the Galaxy Note amid strong seasonality. In the premium segment, the Company will strengthen its leadership through the new Galaxy Note as well as its innovative products such as 5G and foldable smartphones.”
Samsung thinks that demand for new types of displays as well as renewed interest in smartphones will be the primary drivers of growth in the near future. Particularly, Samsung thinks foldable and bendable displays are a real profit center for the company in the future, hence the patenting of a wraparound display design and the (as of yet tragic) Galaxy Fold bendable display.
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