Today, Samsung posted its Q2 2023 financial results. The report says Samsung's profits have dropped considerably compared to last year.

Samsung sees 95% drop in profits for a second consecutive quarter::Today, Samsung posted its Q2 2023 financial results. The report says Samsung’s profits have dropped considerably compared to last year.

  • Hapa_B@lemmy.worldEnglish
    372·
    1 year ago

    Lol everyone commenting it’s because THEY don’t want to buy a new phone. Samsung supplies screens, electronic internals for other companies, and a fuck ton of appliances. They don’t only make phones…

    • Balder@lemmy.worldEnglish
      11·
      1 year ago

      Yet the article says Samsung attributes that to the phones market?

      Samsung attributes this loss in profit to the decline in smartphone shipments due to “high interest rates and inflation.”

      Something else that doesn’t seem to bode well is the fact that Samsung believes the boost that came from the launch of the Galaxy S23 series has faded.

      And expects a comeback because it’s launching new models…

      The manufacturer highlights the launch of the Galaxy Z Flip 5 and Galaxy Z Fold 5. It also believes that the smartphone market will make a return.

      This seems to indicate that most variable profit comes from the smartphones market.

    • Corkyskog@sh.itjust.worksEnglish
      5·
      1 year ago

      I was just in a vacation rental looking at a Samsung mini-split AC and wondering if it was good or not haha.

      • ramjambamalam@lemmy.caEnglish
        3·
        1 year ago

        Their washing machines and dryers aren’t great compared to LG, so I would be suspicious of their ACs.

        • Hyperi0n@lemmy.filmEnglish
          2·
          1 year ago

          Samsung and LG are both garbage when it comes to washers, dryers and the worst for refrigerators.

            • Hyperi0n@lemmy.filmEnglish
              2·
              1 year ago

              Consumer Reports isn’t a valid source. They have paid reports.

              Speed Queen is the top brand in washers and dryers.

              LG dryers do not last past their warranty for very long. Anyone who’s owned an LG can tell you that as with appliance repair companies.

              LG and Samsung are very poor.

              • ramjambamalam@lemmy.caEnglish
                11·
                1 year ago

                Consumer Reports isn’t a valid source. They have paid reports

                Do you have a source for that? That would be a pretty big deal considering they’re a non-profit that claims to accept no samples and no advertising.

                • Hyperi0n@lemmy.filmEnglish
                  11·
                  1 year ago

                  PeTA claims is doesn’t fund terrorism. Yet they do. They were blacklisted from Walmart donations when I worked there for that sole reason.

    • marmo7ade@lemmy.worldEnglish
      41·
      1 year ago

      They don’t make OLED TVs. LG supplies samsung with the OLED panels for their TVs.

      For everything samsung does, they can’t do the hard things. They can’t make OLED panels, they can’t make SoCs like Apple, and they can’t make software like Google.

      Samsung does a ton of things…mid. That’s why they supply so many parts. Because the really difficult and innovative things are done by the people they sell parts to.