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At the publication of its quarterly numbers, South Korean Samsung has predicted a difficult year, joining its competitor Apple which also warned for lower turnover.
No growth in early 2016
Over the past quarter, Samsung managed to make a 83.2 billion won (€2.5 billion) profit, down an astonishing 40% compared to one year ago and far below analysts’ expectations. They had forecast a 5.4 billion won profit. Previously Samsung announced that its quarterly turnover reached 53 billion won (€40 billion), which is a slight increase compared to the year before.
The company is also struggling with the slower growth in the smartphone market, as the company only shipped an additional 6% over the past quarter. Nevertheless, Samsung still leads the market with 324.8 million devices in 2015 and a 24.4 percent market share.
Samsung forecasts a difficult 2016 with stagnant sales over the first six months. To turn the tide, it has decided to invest more into new screen techniques and technical engineering.
