this post was submitted on 29 Jul 2023
583 points (96.6% liked)

Technology

72764 readers
1399 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related news or articles.
  3. Be excellent to each other!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, this includes using AI responses and summaries. To ask if your bot can be added please contact a mod.
  9. Check for duplicates before posting, duplicates may be removed
  10. Accounts 7 days and younger will have their posts automatically removed.

Approved Bots

founded 2 years ago
MODERATORS
L3s@lemmy.world
enu@lemmy.world
technopagan@lemmy.world
L4s@lemmy.world
L3s@hackingne.ws
L4s@hackingne.ws
583
Samsung sees 95% drop in profits for a second consecutive quarter (www.androidauthority.com)
submitted 2 years ago by L4s@lemmy.world to c/technology@lemmy.world
268 comments fedilink hide all child comments
 

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.

you are viewing a single comment's thread
view the rest of the comments
[–] fleetw16@lemmy.world 32 points 2 years ago (2 children)

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..

[–] balder1991@lemmy.world 10 points 2 years 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.