Samsung has announced their 2018 earnings, and things aren’t so perfect for the top dog in the Android space. We were already expecting this from a warning directly from Samsung, but now it’s official: Q4 of 2018 saw Samsung take a sharp hit to revenue and profit for what’s typically the best quarter of the year.
Samsung posted around $53.4 billion quarterly revenue, which is a 10% drop from the previous year, and an operating profit of $9.7 billion, which is down a much worse 29%. These losses came from several directions, including Samsung memory business which saw tons of uncertainty in the NAND and DRAM market. Slowing smartphone sales also contributed to that, since less manufacturers were buying parts and components from Samsung.
That, in turn, also affected Samsung’s smartphone business, with the company simply selling fewer phones. Samsung expects that to continue into the first quarter of this year, too.
With that being said, the incredibly hyped Galaxy S10 is just on the horizon, and Samsung is banking hard on that turning things around and sparking up their smartphone business again. It’s shaping up to be an incredible phone, and it just might do the trick and inject some life into a market that’s been getting a little boring for the past couple years.