Samsung is feeling the chill from cooling global demand for smartphones.The South Korean technology giant said Friday that it expects operating profit for the first quarter to plunge by 60% compared to the same period year ago.Samsung (SSNLF) warned last week that its earnings would be hit by slowing demand for memory chips and display panels, a sign that device makers and their suppliers are coming under pressure.The company estimated Friday that operating profit for the first three months of 2019 will total 6.2 trillion Korean won ($5.4 billion), lower than analysts’ already downbeat expectations.
Source: CNN Technology News
Date: April 5th, 2019
Link (included video): https://www.cnn.com/2019/04/05/tech/samsung-profit-warning-smartphones/index.html
Discussion
1) What do you think is behind the “cooling demand for smartphones”?
2) What influences your decision to purchase a new smartphone, and how has that decision making process changed over the last 3 years?
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