Samsung's quarterly profit set to hit 6-year low as consumers hunker down

quarterly profit will likely plunge 58% to its lowest in six years as a global economic downturn saps demand for electronic devices and clouds the outlook for the memory chip industry.and climbing interest rates, smartphone makers and other clients held back memory chip orders, while smartphones sold for less as demand suffered, analysts said.

Samsung, as the world's biggest maker of memory chips, smartphones and TVs, is a bellwether for global consumption trends. It is expected to announce preliminary results on Friday and full results later this month. Operating profit for Asia's fourth most valuable listed company likely fell to 5.9 trillion won in the October-December quarter, according to a Refinitiv SmartEstimate from 21 analysts.

That would be Samsung's lowest quarterly profit since the third quarter of 2016 and compares with an operating profit of 13.87 trillion won a year earlier. "The main reason for the performance... is a sharp drop in demand. Both shipments and prices of chips and smartphones are expected to fall short of previous expectations," said Kim Roko, analyst at Hana Financial Investment.Operating profit for Samsung's chip business likely tumbled by 78% to 1.9 trillion won, an average of seven analyst estimates showed.

Source: News Formal (newsformal.com)

Bought a Samsung refrigerator & a Samsung tv neither could be fixed by their technicians who were sent out multiple times, within 3yrs both are sitting in a landfill. Samsung makes junk.

Or might just be their product sucks. I have stove from them, worst appliance I have ever bought, don’t waste your money.

Considering their prices, we're taking them more seriously and keeping them longer. It's typically (hopefully) at least a 5-year investment around here...

Not the only reason. The quality of Samsung products has decreased noticeably.

The new phones are not coming in the market upto the mark. People are searching some other options.

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