Samsung Q1 profit slips at USD 5.33 billion over weak chip demand

Samsung posted its quarterly earnings report and despite strong Galaxy S10 sales, the company recorded a decline in its profit in Q1, 2019.

In its official release, Samsung revealed it made KRW 52.4 trillion in consolidated quarterly revenue (approximately USD 45 billion) and KRW 6.2 trillion (approximately USD 5.33 billion) in quarterly operating profit.

The company acknowledged that the earnings were impacted due to poor sales of chips and displays. Samsung says the overall memory chip market will remain slow in Q2, while the demand for flexible displays is expected to remain weak. (ANI)