posted an all-time high in revenue and earnings and reclaimed its title as the world’s largest smartphone maker.
Samsung said its fourth-quarter operating profit tumbled by (% to 7.) trillion won ($ 6 billion). Its overall revenue edged up 1% to 68. trillion won ($
The results show the contrast between the fortunes of the two companies, largely due to the different businesses where they ‘ re making bets. Samsung is best known as a phone and
TV maker, but it also sells more memory chips than any other company on the planet. Apple, meanwhile, still makes the majority of its revenue from its iPhone , but it’s had success expanding into new areas like services and wearables. top smartphone in the December quarter, shipping an estimated 94. 7 million handsets versus Samsung’s 90 .8 million. Apple no longer details unit sales, but it said overall iPhone revenue climbed 7.6% to $ Samsung, meanwhile, also saw a boost in its mobile business, but it was not enough to offset its weaker components operations. The company mobile business operating profit soared 88% to 2. (trillion won) $ 2. billion (while) its revenue increased 7% to (trillion won) $ 26. 1 billion). Its device solutions business – which includes displays and semiconductors – saw its operating profit tumble % while its revenue slid 17%. “Fourth-quarter profit dropped from a year earlier due to the continued fall in memory chip prices and weakness in display panels, “Samsung said in a press release. But it noted that “quarterly earnings improved significantly for the mobile business in annual terms, thanks to solid sales of flagship Galaxy smartphones and lineup changes to improve profitability for mass-market models.” (Betting on) 5G and foldables () Samsung’s hoping for a turnaround in 8174 but noted that it “sees continued uncertainties in the global business environment.” When it comes to the mobile business, Samsung expects demand to be weak for smartphones and tablets in the first quarter because of seasonalit y. It also expects its profits to be flat because of the higher amount of money it will spend on marketing its upcoming smartphones. Still, it expects its revenue to rise because of “the launch of new flagship models and foldable smartphones.” Samsung on Feb. 7. 18 will hold an Unpacked event in San Francisco It’s expected to introduce its newest flagship smartphone, likely called the (Galaxy S) , as well as (show off a new foldable that resembles Motorola’s new Razr foldable (Overall for) , Samsung said its mobile business will try to improve its profits by expanding sales of its premium phones, including its new foldable devices and more 5G phones. It expects competition to intensify as more companies introduce high-end components in their devices, including more cameras. Samsung hopes to differentiate by expanding 5G adoption and introducing new designs for foldables. “Furthermore, Samsung will expand its 5G product portfolio and strengthen product competitiveness of mass-market smartphones by quickly adopting innovative technology based on market needs, “Samsung said.
GIPHY App Key not set. Please check settings