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Samsung’s Q3 profits aren’t doing so hot. The South Korean manufacturer reported a 13 percent drop in their fall quarterly profits. The fall was lessened thanks to their smartphone division which saw profits double from a year ago to a record high of $2.3 billion, 60 percent of Samsung’s total profit. Samsung still hangs on to the No.2 spot for largest handset manufacturer just under Nokia.
It’s Samsung’s bread-and-butter chip business that is really hurting the company. Chip profits dropped to 1.59 trillion won, half of what they were last year. Oh – and don’t forget Samsung’ display busniess which also posted losses for a third consecutive quarter. Seems nobody is buying those super slim (and pricey) LED TV’s.
This should give Samsung a good idea of where to invest their won (“moar Android phonez”) and where consumers are spending their hard earned money. Even in a tough economy, consumers seem to hold more value to smartphones, which are essentially entertainment Swiss Army knives (games, video, music, web) dishing out more bang for the buck.
[Via Reuters]
Maybe their chips would have done better had they not taken their sweet time getting the S2 to the States…. But I love me my 51″ Sammy plasma and anticipate loving my G-Nex (if that ever makes it to the States…come on Verizon!).
Chip profits dropped to 1.59 trillion? Am i reading that right CC? Its past my bed time and I am going cross eyed atm…
That’s 1.59 trillion “won” (South Korean Currency). It amounts to just under 1 Billion US dollars.
1.59 trillion won
Ahh, The Samsung Galaxy S II. Probably one of the most anticipated devices of 2011. A phone that breaks all barriers. One of the first phones of its class, sporting a 1.2GHz dual core processor, 1GB of RAM and a Super AMOLED Plus 4.3 inch touch screen. The phone stocks 2.3.4 Android Gingerbread, and boy does this phone run it good! Phones like the Evo 3D that have similar specs just can’t keep up with how good of a phone this is. It has no lag what so ever, no problems with multitasking and just runs everything perfectly.
o_O
Oh really. Rooted EVO3ds can out perform an sgs2. On eternity rom I’ve seen users post screenshots of 4700+ quadrant scores. How does your sgs2 score?
No wonder Samsung does not care much for Apple business. Apple wants to reduce every player who provides components to Iphones to a commodity. Android allows Samsung its own identity and enables it to wrench more profits.
not just that. Samsung is 1 android carrier, and by itself is selling more phones than apple is in it’s entirety. that’s a big deal
If I had known Sammy was on such hard times I wouldn’t have bought my 55″ Sony Bravia ($940). My Sony is thicker, but its on my wall. Not like 3 more inches thick is taking up a lot of space on the wall. If Phandroid passes a collection plate I will support Sammy in their time of need.