Samsung unveiled its first-quarter financial statements and is in line with the company's first-ever alerts to investors. According to the data, the group's profits fell 60% a year, from $ 13.4 billion to $ 6.2 billion. The mobile division provided 78 million smartphones and 5 million tablets in the quarter. According to Samsung, the flags of the Galaxy S10 series sold well and expectations are increasing in the second quarter.
The company reported the same problems as the main cause of the collapse, which also led to weaker performance in the last quarter of 2018: weak demand for memories and reduced sales of displays. According to Samsung, the two key segments are expected to improve the situation in the second half, when there will be an increase in demand for server flash drives, while 256 GB of memory and more memory for applications will become more massive.
The report does not mention the foldable Galaxy Fold smartphone, whose debut has been postponed due to problems with screen resilience. When answering a question during the teleconference following the announcement of the results, it is clear that the device will still be on the market and the exact date will be announced within the "coming weeks". Of course, this definition is quite elastic and can also mean actual release only during the second half of the year.
Among Samsung forecasts, in the second half of the year, there were strong sales of smartphones in all segments. The premium category is expected to strengthen positions with Galaxy Note and 5G smartphones and folding displays. Overall, Samsung expects a greater demand to double smartphone screens, but to date they will not generate much revenue, and the panel division will rely more on classic solutions to improve their financial performance.