From Breakingviews - Two big clouds eclipse Samsung’s silver lining, says mak_robyn:
A Samsung employee arranges the new Samsung Galaxy S10e, S10, S10+ and the Samsung Galaxy S10 5G smartphones at a press event in London, Britain February 20, 2019. REUTERS/Henry Nicholls
The Seoul-based company is due to provide first-quarter earnings guidance on Friday, two weeks after it delivered a rare profit warning. It noted that prices for its flagship products – which account for roughly three-quarters of operating profit – would be worse than expected. The investment community is bracing for earnings to halve to 6.1 trillion won from a year earlier, according to the average of revised analyst estimates compiled by Refinitiv.
One reason is the oligopoly. Samsung, SK Hynix and Micron now account for nearly all the so-called dynamic random access memory, or DRAM, chips used in PCs, servers and smartphones. And the trio – down from over 10 competitors a decade ago – is moving quickly to curb production and cut capital spending.
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