Technologies

Samsung profits doubled

Samsung’s net profit for the quarter fell 2.1 times compared with the same period a year earlier. Operating profit fell by 51%, revenues decreased by 4%, to 56.13 trillion won (about $ 47.5 billion). Samsung expectsimprovement in the second half of the year.

The mobile division raised revenue by 8%, but revenues on an annualized basis fell by 42%. It is noted that in the reporting period, mid-level smartphones like the Galaxy A50 and A70 sold well, but the flagship did not perform well.

Samsung believes that Galaxy Fold and Galaxy Note 10 will help in the top price segment, the company also plans to release more competitive A-series smartphones in the second half of the year.

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