TECH

Samsung’s profit fell 60% in the first quarter due to iPhone

Samsung will issue a financial report for the first quarter of 2019 in a couple of weeks. In the meantime, preparing investors for bad news. Compared with a record quarter last year, the company’s profit fell by 60%, and revenue – by 14%. And this is associated primarily with the slowdown in sales of the iPhone and low prices for RAM.

Last fall, it was reported that Samsung is no longer the exclusive supplier of OLED displays for the iPhone XS and XS Max. LG Display began shipping a number of displays for Apple. In addition, analysts tend to believe that the overall slowdown in iPhone sales has further reduced the shipment of displays from Samsung.

As a result, the South Korean company expects that in the first quarter of 2019 it will be able to record only $ 5.5 billion in profits, with a total revenue of $ 45.7 billion.

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