The South Korean tech giant is the world’s largest memory chip maker, and its Galaxy smartphones are a major rival of Apple’s products. Prospects for Samsung’s flagship Galaxy S20 premium smartphones, launched more than one month ago, look dim. Brokerage Hanwha Investment & Securities estimates Samsung smartphone sales fell 17% in the first quarter from a year earlier. Last year, a slump in profits at the smartphone and chip businesses more than halved Samsung’s full-year earnings. Samsung only provides its estimates for its first-quarter revenue and operating profit on Tuesday, with details likely to be released later this month.

Source: The Express Tribune April 06, 2020 07:52 UTC