The Q1 2019 sales report is live and it shows the sales conducted throughout the first three months of the year along with the operating profits which were obtained from those sales. The Korean giant is banking on electronics sales to offset falling chip prices, and decreased OLED screen demand (e.g. within Apple iPhones).
Samsung Electronics announced it is expecting drop in revenue and operating profit due to weakness in its display and memory business in the first quarter of 2019. He tweeted a not-especially-subtle string of letters and numbers on Wednesday afternoon that seemingly hint at a May 16 release date for Samsung's flagship 5G phone in America.
Samsung shares slipped about 0.43 percent in morning trade, trailing behind the Korean benchmark Kospi, which was in positive territory.
The firm will disclose detailed earnings in late April.
Analysts expect Samsung's sales and profits to improve in the second half of the year, as the company continues to sell the well-received and high-margin Galaxy S10 and foldable smartphones.
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Samsung said it forecast revenues of roughly 52 trillion won, down 14 per cent year-on-year. Samsung saw record sales and profits a year ago, but falling global demand for memory chips on weakening demand from China and data center companies like Amazon and Microsoft has hurt its profits.
It was down from 3.8 trillion won (3.3 billion USA dollars) of operating profit tallied a year earlier, but it was sharply up compared with 1.4 trillion won (1.2 billion US dollars) of profit in the previous quarter.
Data centres are working through their stockpiles of unused memory chips while Apple cut its sales forecast earlier this year amid continued trade frictions between the U.S. and China. Sprint says it will launch 5G mobile phone service next month in four cities.
Samsung has begun mass production for its 5G chips as it attempts to have an early impact in the shaping the next-generation network.
"We are at the beginning of a new era where the incredible speed and connectivity of 5G becomes a reality, bringing the world closer to Samsung's vision of connected living", said DJ Koh, president and CEO of IT & Mobile Communications Division, Samsung Electronics.