Samsung relying on 5G and foldable smartphones to boost mobile division
The competition is fierce on the mobile market, that’s a fact. Samsung reported its Q3 2018 results, and, on such a competitive landscape, despite solid sales of its flagship smartphones, “the IT & Mobile Communications (IM) Division reported a drop in earnings”, says the report. The Korean giant justifies flat smartphone shipments by a decrease of mid- to low-end product sales. Consequently, profit was down to which increased promotional costs contributed.
Samsung’s plan moving forward is expanding “sales of premium smartphones through differentiated design and a diversified lineup”. This will result in improving the Galaxy line-up and equipping the phones with cutting edge technology. Additionally, a key factor in achieving growth, according to the manufacturer, is “leading innovation” with the launch 5G and foldable smartphones. Moving forward, Samsung will also try to strengthen its position in the mid-range segment by applying its new mobile strategy.
There are no concrete numbers for smartphone sales or shipments in the report, aside from the reference that they are flat. As for the figures, the IT & Mobile Communications Division posted KRW 24.91 trillion in consolidated revenue and KRW 2.22 trillion in operating profit for the quarter. That’s roughly $21.8 billion in revenue and $1.9 billion in revenue.
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