Samsung reports bleak smartphone sales in Q4 and FY 2018

Samsung has just released its financial results for the fourth quarter of 2018 and the complete fiscal year. The final three months saw a decline in both sales and operating profit, but the full year results were still record-setting.

Despite weak sales of mobile devices, the IT & Mobile Communications division reported gains on the back of 5G equipment installations and expansion of LTE networks. Earnings are likely to improve after the introduction of commercial 5G services in South Korea and the planned launch of the Galaxy S10 on February 20 at the Unpacked event in San Francisco, United States.

Samsung fiscal results for Q4 and FY 2018

During the last two years, Samsung rode the high wave of impressive memory chip sales, but the hype eventually faded. Q4 2018 was the first quarter since the beginning of 2017 that didn’t see a yearly increase. The company said major customers held back on orders, anticipating a further reduction in price.

Looking ahead to 2019, Samsung will “aim to secure future growth by increasing sales of premium products and strengthening online and B2B businesses”.

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