Samsung revenue declines, despite strong Galaxy S10 sales

CNET | 4/29/2019 | Steven Musil
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The Galaxy S10 helped Samsung's bottom line in the first quarter.

The smartphone slowdown isn't hurting Samsung as much some may have predicted, thanks to strong sales from its new Galaxy S10 lineup.

Samsung - Monday - Results - Weakness - Memory

Samsung said Monday that its first-quarter financial results were weighed down by weakness in its memory chip and display businesses, but that it's newly launched flagship smartphone logged solid sales. Samsung said seasonal weakness led to decreased demand for smartphones, but the division's revenue increased in the quarter thanks to the Galaxy S10.

"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.

Electronics - Giant - Revenue - % - Year

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).

Samsung said it smartphone shipments were hampered " due to a lineup reorganization of mid- to low-end products." Revenue in its mobile operations dropped 4 percent from the previous year to 27.2 trillion won ($23.4 billion).

Samsung - Galaxy - S10 - Sales - Sales

Samsung didn't detail Galaxy S10 sales, It's strong sales come amid a slowdown in the smartphone market. It's become harder...
(Excerpt) Read more at: CNET
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