Samsung announces slight dip in Q4 profit

The vendor expects improved sales in Q1 2020

Samsung has announced its quarterly earnings for the fourth quarter of last year, reporting a slight drop in profit.

The Korean company posted revenue of KRW 59.88 trillion (approx £38.24 billion) which was down from KRW 62 trillion (approx £39.6 billion) from the previous quarter.

However, the vendor said that earnings from their mobile business improved due to sales of the Galaxy flagship smartphones and increased profitability from some mass-market models.

Samsung also said they expect weak sales from seasonality memory chips, OLED and consumer electronics in the first quarter of 2020.

First-quarter profit from the Mobile Business is seen as steady and new flagship and foldable devices will improve sales but the vendor says this will incur further marketing costs.