Tuesday, 26 October, 2021


Samsung estimates a massive 53% drop in profit for 2019

Samsung Flags One Third Drop in Q4 Operating Profit on Chips Smartphones Samsung Electronics is crucial to South Korea's economic health
Melba Vasquez | 09 January, 2020, 15:25

Analysts say there are signs that the global market for memory chips is beginning to stabilize due to increase demands in servers and mobile devices.

The first quarter of 2019 set the tone for a tough year when Samsung posted its lowest quarterly profit in three years.

Samsung predicts a profit decline of 34 percent in won terms from a year earlier.

Samsung said it expected to report later this month a 34% drop in operating profit at 7.1 trillion won ($6.04 billion) for its fourth quarter ended December 31 versus the same period a year earlier. That beats analyst expectations: Reuters said that Refinitiv SmartEstimate predicted operating profits of just 6.5 trillion won. The South Korean tech giant is the world's largest smartphone and memory chips manufacturer and faced declining profits in both categories.

A guilty verdict and long prison sentence would deprive the firm of its top decision maker.

Its board chairman Lee Sang-hoon was also jailed last month for sabotaging union activities, prompting a rare apology from the firm.

Samsung's shares were traded up 0.7% in a wider market .KS11 that was down 0.8%.

A rebound in DRAM prices would make a big difference for Samsung's quarterly profits.

"As for DRAM, we expect prices to increase each quarter in 2020", she said, adding: "The recovery of the DRAM and NAND market is mostly driven by the constriction of supply, but an increase in demand also contributes to this as well". Additionally, Samsung is also hoping for 5G network availability to pick up globally, allowing for higher sales of its 5G handset offerings.

It said last week it had shipped more than 6.7 million Galaxy 5G smartphone devices globally past year, claiming it had more than half the world's 5G smartphone market as of November.

There are other factors, of course, because Samsung is a massive company.

We'll get a better idea of how Samsung's many divisions performed in the final quarter of previous year when it releases the full earnings report by the end of this month.

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