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Smartphone giant Samsung is taking a big hit from a decline in smartphone sales. As I’ve mentioned in the past, I believe we hit “peak smartphone” about two years ago.
We’re seeing company profits now being impacted by the oversaturated smartphone market in a big way:
Samsung - Electronics - Co - Ltd - Friday
Samsung Electronics Co Ltd said on Friday it was heading for its lowest quarterly profit in more than two years as a glut in memory chips, slowing panel sales and rising competition in smartphones hit margins.
The South Korean tech giant said first-quarter operating profit likely slid 60 percent from a year earlier, missing market expectations and putting it on track for its weakest quarterly profit since late 2016.
Samsung - Supplies - Memory - Chips - Screens
Samsung supplies memory chips and screens for its own smartphones and Apple Inc, and server chips for cloud companies such as Amazon. Its semiconductor business is the main profit driver.
Samsung’s premium Galaxy smartphones meanwhile are struggling to be profitable due to rising costs of innovation, competition from Chinese rivals and the reluctance of...
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How's that peak oil working out for you?