LG reliant on 5G turnaround as mobile division slumps again
Mobile revenue dropped to £3.8 billion in 2019 from £5.4 billion
Paul Lipscombe
January 31, 2020
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.