Samsung has to contend with a third quarter by no means extraordinary. For the Korean company, in fact, there is the first decrease in profits on a quarterly basis in the last three years, despite an overall increase in turnover.
Samsung closes an unsatisfactory quarter: profits down for the first time in three years
Samsung’s quarterly figures confirm the difficult time for the entire industry. The Korean house records turnover up by 4%, with a total of over $ 54 billion. At the same time, however, profits collapse.
In fact, during the third quarter of the year Samsung stops at $ 7.65 billion in profits. It is a fact that translates into a 31% drop compared to last year. This result, according to Samsung, is closely linked to contraction of the memory market which represents one of the main markets of the group.
Samsung has to deal with the effects of the pandemic which, in recent years, has caused a very rapid increase in demand. Today the situation is very different and Samsung’s financial data proves it. As far as the smartphone sector is concerned, there is a growth in sales of the Galaxy S and Z compared to last year.