samsung profit plumets 60 in q1 2019

Samsung announced its financial results for Q1 2019 and they look as grim as predicted back in late March. The company reported consolidated sales of KRW52.4 trillion, which is 13% lower on a yearly basis. The decline of profit is even sharper – just KRW6.23 trillion, down 60% compared to the same period a year ago.

Samsung Q1 2019 financial results

Samsung stated in its press release the main reason for the poor performance is the weak memory chip demand. However, the Samsung Galaxy S10 sales are “solid”, reporting a quarterly rise in revenue, despite a decrease in overall…