Samsung sees 95% drop in profits for a second consecutive quarter::Today, Samsung posted its Q2 2023 financial results. The report says Samsung’s profits have dropped considerably compared to last year.
Drops in profits can mean investments, new hires and a myriad of other stuff. No meaning in the headline whatsoever. Profits are not revenue.
Young people in Korea have switched over to iphones. iphone have like 60% marketshare now for that demographic
Imagine actually using an iPhone
Imagine participating in brand-loyalty wars.
Firstly, it’s a joke, secondly, it’s more about OS and user experience and not brand loyalty. The fact that you don’t know that is a tell tale sign
Ok
Sorry. I’m just trying not to get evicted due to living in a country with the highest rent, internet, food, and data plan prices.
each new phone is more expensive, with less functionality.
hover on the touch screen? gone
iris scanner, gone
headphone jack? gone
air pressure sensor? gone
humidity sensor? gone
ir blaster, gone
meanwhile I get charged out the ass for storage space.
Why the fuck would I want a newer phone?
Also removable batteries gone
That’s supposed to be coming back by EU law in the next few years. So we have that at least.
They still made around $1/2 BILLION.
I love how every headline about their earnings focuses on the drop from before and not on the actual number they made.
Boo-fucken-hoo the record profits they were making the last few years couldn’t be sustained forever. Oh noes!1!!!
Dude a 95% drop in profits YOY is most assuredly newsworthy
No. Not at all.
If a company made one penny last quarter, and 10,000,000 this quarter, then their profit is up 10 billion percent. It’s a stupid headline.
If a company did that it would be extremely newsworthy, as a 1,000,000,000,000x profit increase.
I don’t see your point.
If the same company made 10,000,000 last quarter and then made 500,000 this quarter that would also be newsworthy… as you know, a 95% drop in profits.
“Company so and so did an INFINITE PROFIT INCREASE!”
Stupid.
My point is that it’s stupid to use percentages when reporting profits unless you’re writing for clicks. That’s not how professional do it when looking at earnings reports. Ever. And for good reason. Again, Samsung stock is not tanking, because investors are smarter than internet kids who are bad with numbers.
Revenues are looked at as percentages. Profits are looked at as raw numbers. Typically.
Relevant username btw hahaha
😳I really didn’t mean to upset you so much wee man… don’t get too emotional. Just having a conversation here aren’t we?
Percentage is entirely legitimate to look at, it’s merely a way of quantifying what the raw numbers mean versus the raw numbers from last years performance.
No one said Samsung stock is tanking, you’re kind of shouting that into an empty room.
I was acknowledging that a 95% drop in profits vs the same period over the previous year is definitely a newsworthy item especially in two consecutive quarters… I think any shareholder of Samsung would agree.
Company makes 1 dollar q1 2022. Company makes $.05. Q2 of 2023.
Headline: “company loses 95% of its profits.”
It’s the opposite of meaningful.
It is meaningful if you measure Q1 2020 vs Q1 2021. You’ve got a bit confused as to what YOY is, you’re not just measuring two random quarters from different years (q1 2022 vs q2 2023?), you’re comparing against the performance in the same quarter the previous year.
It is a very meaningful way of judging whether a companies performance (ability to turn a profit and create value for the investor) has improved against the same period the previous year.
https://www.investopedia.com/terms/y/year-over-year.asp
There is a little bit of very basic information for you. I can try find something more colourful and with nice pictures if you need.
Lol everyone commenting it’s because THEY don’t want to buy a new phone. Samsung supplies screens, electronic internals for other companies, and a fuck ton of appliances. They don’t only make phones…
I was just in a vacation rental looking at a Samsung mini-split AC and wondering if it was good or not haha.
Their washing machines and dryers aren’t great compared to LG, so I would be suspicious of their ACs.
Samsung and LG are both garbage when it comes to washers, dryers and the worst for refrigerators.
What do you mean? Consumer Reports ranks LG dryers as the best, so much that you the next best dryer that isn’t an LG is a Samsung in 21st place.
Of CR recommended dryers, 11/11 electric dryers are LG and 20/25 gas dryers are LG.
https://www.consumerreports.org/products/clothes-dryers-28982/electric-dryer-30562/view2/ (requires a subscription)
Where do you get your data from?
Consumer Reports isn’t a valid source. They have paid reports.
Speed Queen is the top brand in washers and dryers.
LG dryers do not last past their warranty for very long. Anyone who’s owned an LG can tell you that as with appliance repair companies.
LG and Samsung are very poor.
Consumer Reports isn’t a valid source. They have paid reports
Do you have a source for that? That would be a pretty big deal considering they’re a non-profit that claims to accept no samples and no advertising.
PeTA claims is doesn’t fund terrorism. Yet they do. They were blacklisted from Walmart donations when I worked there for that sole reason.
I don’t even want to buy a new phone. It’s been more than four years. What great productive work are most people doing on them anyway?
Im scrolling Reddit and Lemmy productively
