Samsung expects another big slump in profits

Samsung would have taken a worse hit if it weren't for a one-off payment from a

Samsung expects another big slump in profits

Curated via Twitter from Engadget’s twitter account….

The company reportedly asked Apple for compensation after its OLED display orders didn’t meet minimum levels, although that hasn’t been confirmed.

The company warned that its profits were likely to slump in the second quarter, dropping about 56 percent year-over-year to roughly 6. 5 trillion won (just short of $5. 6 billion).

That doesn’t sound great, but it could have been worse — a one-time payment from an unnamed customer buoyed Samsung’s income.

While Samsung hasn’t explained what dragged it down this quarter, its performance early in the year suffered primarily due to a drop in memory chip sales.

Even with Huawei’s troubles, Samsung still faces fierce rivalry from Chinese vendors and others that have historically hurt its sales.

Apple and Huawei might prevent things from getting worse.

While its increased profits over the first quarter suggest that the Galaxy S10 and A-series launches helped, they weren’t popular enough to reverse trends.

Apple and Huawei might prevent things from getting worse.

Link to original article….

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