Samsung Feels Apple's Pain as Technology Slowdown Hits Sales


Samsung Feels Apple's Pain as Technology Slowdown Hits SalesThe South Korean company’s operating income fell to 10.8 trillion won ($9.65 billion) in the period that ended in December, according to preliminary results released Tuesday, falling short of the 13.8 trillion-won average of analysts’ estimates compiled by Bloomberg. Deteriorating relations between the U.S. and China — Samsung’s two biggest export destinations — has hit demand for memory used in everything from personal computers to mobile devices, raising the pressure on a company struggling to revitalize its smartphone business. Compounding that challenge is weakness at rival, and major customer of components, Apple, which shocked global markets last week when it cut its sales outlook for the first time in almost two decades.



Tags: Apple, Science, China, Samsung, Bloomberg, Samsung Feels Apple

Source:  https://finance.yahoo.com/news/samsung-misses-profit-estimates-chip-233624233.html