In the face of a challenging global economic climate, market saturation, and falling oil prices, Samsung’s fourth-quarter net profit dropped by 40%. Following Apple CEO Tim Cook’s warning about an upcoming “winter†for the tech industry, Samsung Mobile President Lee Kyeong-tae echoed similar concerns, stating that the global tech giant is entering a difficult phase this year.
According to Samsung’s quarterly earnings report released on Thursday, the company’s net profit fell by 39% to 3.24 trillion won ($2.7 billion), significantly below the Bloomberg forecast of 5.4 trillion won. This decline was largely attributed to non-operating losses of 2.5 trillion won, driven by falling demand, a strong South Korean won, and weak sales in smartphones and memory chips.
In a statement, Samsung acknowledged that the mobile phone industry is slowing down, with reduced demand for IT products leading to even fiercer competition. The company has lost pricing power in the memory chip market, which is now oversupplied and experiencing sharp price declines. As a result, Samsung's memory chip sales profits in Q4 were only half of those in Q3.
To weather the industry’s “cold winter,†Samsung plans to boost performance through cost-cutting and diversification. The company is focusing on foldable displays and new semiconductor technologies as key areas of investment. Lee Kyeong-tae, head of Samsung’s mobile communications division, noted that while smartphone competition remains intense, there is growth potential in the low-end market. To stay ahead, Samsung will launch new devices to strengthen its competitive edge.
Analysts from East Securities highlighted that global smartphone shipments grew by just 6% in Q4 2015, reaching a record low. With pressure from competitors like Apple, Xiaomi, and Huawei, Samsung’s smartphone shipments have declined for two consecutive years. Analyst Lee Ka-keun from KB Investment Securities believes Samsung’s future performance may continue to weaken under current conditions.
Peng Bo cited Yoo Eui Hyung from East Securities, who warned that all major tech companies are heading into a “severe winter.†Unless overall demand improves, these firms should focus more on self-protection than competing with rivals. With mobile phone demand stagnant, the performance of top tech companies will increasingly depend on memory chip and display sales.
Wall Street reported that Apple recently posted its first-quarter earnings, showing record-high revenue and net profit growth. However, iPhone profit growth hit a historic low. CEO Tim Cook attributed the slowdown to factors such as a stronger U.S. dollar, slower global economic growth, falling commodity prices, and currency depreciation.
As both Apple and Samsung struggled, stock prices of other tech companies, including TDK Mobile Communications, Murata Manufacturing, and LG, also declined. So far this year, Samsung’s shares have fallen over 9%, while the Seoul KLCI index is down just 3.2%. Samsung’s stock dropped another 2.6% this morning, reflecting ongoing investor concerns.
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