Technology

60073 readers

3178 users here now

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

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 2 years ago

MODERATORS

612

Samsung sees 95% drop in profits for a second consecutive quarter (www.androidauthority.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

312 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

[–] balder1991@lemmy.world 11 points 1 year 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.