The smartphone market seems to be saturated – but the high prices also deter many customers.
Apple lowered its own sales forecast just last week. The reason is a decline in iPhone purchases - especially in China. Now Samsung has also been hit. Samsung Electronics is also struggling with falling sales figures. The smartphone manufacturer is forecasting total sales of around 45.8 billion euros for the Christmas quarter - a whopping 10 percent less than in the same quarter last year. In addition, a reduction in profits of around 29 percent is expected – the forecast amounts to around 8.4 billion euros.
The Seoul report attributes the decline to weak demand for memory chips and smartphones. The Apple rival is optimistic about the current financial year, but admits that the Chinese market is becoming increasingly challenging. Samsung shares subsequently fell by 1.7 percent.
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