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Samsung Electronics operating profit in the first quarter slipped about 60% from a turnover down about 14%, according to preliminary forecasts, further illustrating the company's struggle against at the fall of flea prices. The company had already issued an unprecedented warning last week that its profits would be below market expectations.
Total sales are expected to rise to 52 trillion won ($ 45.7 billion), with operating profit in the order of 6.2 trillion won (5.5 trillion won). dollars, according to a statement. Samsung provides these figures only at the beginning of each quarter and provides a more detailed breakdown later in the month.
In the last quarter, Samsung had said that the Galaxy S10 should help "accelerate" performance, although it is only available for a few weeks during this three-month period. The company said it expects smartphone sales to be virtually flat in 2019, which would affect its ability to sell components such as OLED screens as well as its own Galaxy phones. The demand in its lucrative business of memory, meanwhile, should not increase before the second half of the year.
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