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Samsung Mobile Reports 2019 Profits Dropped 8.8% YoY

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Samsung Mobile has reported that its 2019 profits dropped 8.8-percent YoY. This information has been shared as part of Samsung Electronics’ fourth quarter and FY 2019 results.

The situation is even worse for Samsung Electronics in general. The company has reported profits drop of 52.8-percent YoY for 2019.

In Q4 2019, the company actually made an operating profit of 7.16 trillion won, which is down 33.7-percent compared to the same period in 2018. The company says that the reason for this is the continued fall in memory chip prices and weakness in display panels.

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Samsung Electronics has reported a revenue of 59.88 trillion won for Q4 2019, so that is up 1.02-percent YoY, as last year the revenue was 59.27 trillion won. For the whole year of 2019, the company posted an operating profit of 27.77 trillion won, down 52.8-percent compared to 2018.

As far as the revenue for the whole 2019 is concerned, Samsung Electronics reported 230.40 trillion won. That is up 1.02-percent YoY from 243.77 trillion won in 2018.

Samsung aims to improve its mobile profits with 5G & foldables

The company’s mobile business aims to improve profits, claims Samsung. It is planning to do that by expanding sales of premium models, such as the enhanced 5G lineup, and new foldable devices.

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Samsung Electronics’ IM sector, that includes Mobile Communications and Networks Businesses, posted 24.95 trillion won consolidated revenue, which is up 6.98-percent YoY. The Network Business, on the other hand, will focus on addressing the global 5G market, claims Samsung.

Samsung offered plenty more information in its full report. That report is published on the company’s official website, click here if you’d like to check it out.

Samsung is planning to release several foldable smartphones in 2020, and is hoping that such phones can boost profit in the mobile sector. Those phones, on top of all 5G-capable devices, of course.

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The company’s second foldable smartphone will launch on February 11

Samsung will introduce the very first 2020 foldable on February 11, the Galaxy Z Flip. That handset will become official alongside the Galaxy S20 series.

The Galaxy Fold 2 is expected to arrive in the first half of 2020 as well. That handset will be a direct successor to the company’s very first foldable, the Galaxy Fold.

The company doesn’t plan to stop there, though. Samsung is rumored to announce more foldable smartphones this year. These two are the only ones that got mentioned in rumors / leaks, though. The competition in the smartphone market is growing, with emphasis on Chinese companies. So, it will be interesting to see how will Samsung deal with that.

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