Samsung's Q3 profits drop 60 percent from last year to under $4 billion

[froggyboy604]

At this time last year, Samsung was enjoying a record operating profit of $9.6 billion for its third quarter and shipping Galaxy phones seemingly as fast as it could make them. Now? The company announced its operating profit for the period will be down to between $3.6 and $4 billion, which would be its fourth straight quarter of declines. Of course, that's nothing to sneeze at but it represents a drop of 60 percent in just a year.

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I guest more people are not buying new electronics from Samsung, and buying from more affordable brands like LG, ZTE, Hisense, and Lenovo which are some of the reasons why Samsung's profits are becoming lower.

 

[Demon_Skeith]

I'm shocked since their smartphones and tvs are supposed to be the best.

 

[froggyboy604]

Maybe there are now too many Smartphone and TV makers which make similar products which are good enough. More buyers these days probably  just buy TVs and smartphones which are on sale, or pick a phone or TV which looks the nicest instead of the best brand.