Samsung is Looking at a Q1 Drop of 60 Percent
Samsung Electronics just released its first quarter earnings guidance for 2019 and the numbers are not looking so good.
From January to March, the South Korean tech giant has estimated its operating profits to be around 6.2 trillion Korean won ($5.5 billion USD) marking a 60 percent decline from last year’s 15.64 trillion won ($14.4 billion USD). Samsung’s predictions for overall revenue were down too but not nearly as much as operating profits. Those numbers fell 14 percent from last year coming in at a total of 52 trillion won ($45 billion USD) for 2019. A detailed report and final earnings are expected to roll in later this month.
But Samsung saw this one coming from a mile away.