Samsung’s Q3 income drop 60 % from final yr to beneath $four billion

Samsung's Q3 profits drop 60 percent from last year to under $4 billion

At this time final yr, Samsung was having fun with a document working revenue of $9.6 billion for its third quarter and delivery Galaxy telephones seemingly as quick because it might make them. Now? The corporate introduced its working revenue for the interval shall be right down to between $three.6 and $four billion, which might be its fourth straight quarter of declines. In fact, that is nothing to sneeze at however it represents a drop of 60 % in only a yr. We do not have particular gross sales stats, however business analysts talked about by the Wall Road Journal and Bloomberg see its telephone gross sales squeezed on the excessive-finish by Apple’s newest iPhones, and on the low finish by quite a few Chinese language competitors like Xiaomi and Lenovo. Samsung’s subsequent steps — after launching the brand new Galaxy Notice four — embrace rising its companies making reminiscence chips, processors and shows. Samsung introduced immediately that it is constructing a brand new $14.7 billion chip plant in Korea — perhaps it will possibly get costs of the subsequent Galaxy Alpha down sufficient to get gross sales again on a rising monitor.

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Samsung's Q3 profits drop 60 percent from last year to under $4 billion

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