Samsung announced financial results for 2018. Compared to the fourth quarter of 2017, last year's quarter was 20% worse in sales and 29% lower in profit. However, if we focus on the whole of last year, the South Korean giant is not doing so badly. Revenues were up 1,7% and operating profit was up 9,77%.
In the last quarter of last year, all four divisions did poorly. However, Samsung's mobile division fared the worst. Its revenues and operating profit were worse in all quarters of last year than in 2017. However, the last quarter of 2018 favored the consumer electronics division, whose results were better, mainly thanks to good sales of premium TVs.
Samsung attributes the worse economic results mainly to the decreasing demand for memory chips, greater competition in the field of displays and worse sales Galaxy S9.
The outlook for the South Korean company is also not favorable. Weak chip sales are expected to continue until the middle of this year. However, Samsung promises an improvement in financial results from sales Galaxy S10, a foldable smartphone as well as the newly introduced 1TB eUFS memory chip for mobile phones. The South Korean tech company is also focusing on premium goods this year, which helped them financially in 2018.
