The Apple Inc supplier and rival earlier had warned the quarter could be disappointing due to falls in prices of memory chips, its core profit-driver, and slowing demand for display panels used in Apple's iPhones.
When confirmed later this month, Samsung Electronics would have performed its worst since the third quarter of 2016 when it posted 5.2 trillion won in operating profit on sales of 47.82 trillion won.
The chaebol issued earnings guidance for the first calendar quarter of 2019 this morning. Verizon CEO Hans Vestberg told CNBC the company will activate 30 additional markets this year. They cautiously predict demand will recover around the end of the year.
Perhaps it would have been better to launch Galaxy S10 a little earlier.
According to IHS Markit, a research firm, the market for DRAM is set to reach $77 billion in sales this year, which is a drop of 22% compared to last year. Samsung also plans to reduce spending and focus on profitability for its memory facilities.
Samsung Electronics and Universal Pictures Home Entertainment will collaborate on HDR10+ content, the companies announced, as the South Korean tech giant continues to woo content producers into pushing the next-generation video standard. This time, it seems that the roles have reversed and that the Galaxy Note 10 will be following the Galaxy S10 before it.
For those on the anti-Apple side of the eternal iOS-Android debate, the release of a new Samsung Galaxy model is a big deal, and the recent unveiling of the brand-new Samsung Galaxy S10 was no exception.
The South Korean company typically releases these projections two or three weeks before its actual earnings go live.