By Nick Baum
FRIDAY – 4/5/19
South Korean tech giant Samsung warned last week that company profits are expected to plunge by 60% at the end of the first quarter. Their most recent smartphone, the Galaxy S10, performed very poorly in a global market that is slowly decreasing demand for smartphones.
In fact, the global market for smartphones decreased by around 4% in 2018, according to market research firm IDC. Experts say that the decrease in demand is due to consumers replacing their phones less often, and that newer phones cost too much for a good range of their buyers.
Apple was also hurt by the decline in the market, as they announced that iPhone sales would come lower than expected in January, to many economists’ dismay. Despite the slump, some experts are predicting a rise in sales again for Samsung, as the demand for advanced chips like the ones inside of Samsung phones are rising.
Sources and Pictures: CNN Business, Wikipedia, TechRadar
