Samsung revenue declines, despite strong Galaxy S10 sales

Samsung revenue declines, despite strong Galaxy S10 sales

5 years ago
Anonymous $9jpehmcKty

https://www.cnet.com/news/samsung-revenue-declines-despite-strong-galaxy-s10-sales/

"Despite solid sales of the Galaxy S10, profitability in the mobile business declined [year-over-year] as competition intensified in the low- to mid-range segment," the company said in a statement. The quarter included only about a month of the lineup's sales. 

The South Korean electronics giant recorded revenue of 52.4 trillion Korean won ($45.2 billion), 14% lower than last year's first-quarter revenue of 60.6 trillion won ($53.3 billion). The company's profit for the quarter came in at 6.2 trillion won ($5.3 billion), 60% below the first quarter of 2018's profit of 15.6 trillion won ($13.7 billion). 

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