Samsung has announced its Q2 earnings, the company had sales of KRW 56.13 trillion and a quarterly operating profit of KRW 6.6 trillion.
The company’s profits were down around 56 percent on the same time last year, it saw its revenue drop by around 4 percent.
The weakness and price declines in the memory chip market persisted as effects of inventory adjustments by major datacenter customers in the previous quarters continued, despite a limited recovery in demand.
The Display Panel Business reported improvement due to a one-off gain in mobile displays and stronger sales of rigid OLED panels, which offset losses from large displays.
The Mobile Business posted stronger shipments on new mass market models but was overall weighed down by slower sales of flagship models and increased marketing expenses. The Network Business posted solid results on the commercialization of 5G service in South Korea.
You can see the full financial results for Samsung for Q2 of 2019 over at their website at the link below.
Source SamsungFiled Under: Android News