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Samsung announces slight dip in Q4 profit

Saf Malik
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.

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