Samsung revealed its quarterly earnings guidance for the last three months of 2019 and the numbers do not bring joy. Operating profit is expected to decline around 30%, while the sales remain stagnant on a yearly basis.
Compared with Q3 2019, the sales are down 6.5%, while profit declined by just under 9%.
|Q4 2019 Guidance KRW / USD||Q4 2018 Results KRW / USD||Q3 2019 Results KRW / USD|
|Sales||59 trillion / 50.4 billion||59.27 trillion / 50.72 billion||63 trillion / 53.9 billion|
|Operating Profit||7.1 trillion / 6.07 billion||10.8 trillion / 9.24 billion||7.78 trillion / 6.65 billion|
Samsung announces its full earnings report with details on every department when the month following the quarter ends. At that point we’ll get to find out which divisions were responsible for the less than ideal performance during the holiday period.
Last week Samsung introduced two new premium mid-range smartphones that might help with sales. The Galaxy S10 Lite and Galaxy Note10 Lite are a more affordable alternative to the flagship series helping the company further diversify its smartphone portfolio in an attempt to boost sales.