A Tale of Two Smartphone Manufacturers
The financial analyst community has given Samsung a bit of a drubbing over its 2Q 2018 quarterly results. They certainly were not stellar. The company posted net profit of US$9.87 billion for the second quarter, a slight reduction from the US$9.88 billion reported for the same quarter last year, and down 5.5% from the previous quarter. Quarterly revenues were down 4% Year-over-Year (YoY) at US$52.29 billion. A day later, Apple reported its quarterly financial results…sales revenues increased 17% to US$53.26 billion while net profit increased 32% to US$11.51 billion YoY. Digging into the numbers continues to paint a picture of opposites. In the case of Apple, revenue from its iPhone business was up 29% YoY at US$29.9 billion, whereas Samsung’s mobile device business line generated US$22.67 billion in revenue, down 22%.
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