Samsung sees 95% drop in profits for a second consecutive quarter

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?

When money is tight you might use your phone for a year or two longer. 1000 Euro phones also don't help the matter.

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.

I've said it before and I'll say it again.

This is a sign of an upcoming recession if we aren't already in one. People are starting to run out of their savings due to stagflation and are looking for areas to cut. Buying a new phone every year or every other year and replacing laptops every 5 years are among the first things to go in anyone's budget.

So currently the only people refreshing their devices are the people who NEED new devices.

Capitalist economies always need spends out of desire and not just necessity.

Worst part is instead of reversing the gouging these companies will probably just go ham on the planned obsolescence.

Drops in profits can mean investments, new hires and a myriad of other stuff. No meaning in the headline whatsoever. Profits are not revenue.

Foldable devices seem like the 3d TVs of the last couple of years. I will not be getting one any time soon.

Samsung started removing useful features such as SD card readers and headphone jacks and increased the price at the same time.

They actually created a disincentive for consumers to purchase a new phone.

I wonder what could have possibly happened to their profits?

Maybe they could stop taking features away from their phones. Put a micro SD and aux jack back and I'd buy one

As a Samsung user of 6 years, mainly due to job phone policy, I say they deserve it.

Great screens, but gawddamn they aren't worth their price. No charger, no headphone jack, no expandable storage, fingerprint sensor that are iffy and damn OS taking up 30% of your storage, no matter which option you go for.

I like the camera and s-pen on my S22u but that's it. They need to lower price and make competent mid range phones again, like the A52s.

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!!!

I stopped buying Samsung phones when Samsung stopped making phones with features I want such as an SD card and headphone Jack.

Either you make products that people want or you don't, it seems pretty simple to me.

And remember, nobody is actually losing money, they just aren't making as much as they'd hoped. You make shitty products and you homogenized with Apple losing anything that made you distinct and close to worthwhile. Fuck Samsung, all my homies hate Samsung.

Yeah, this is the chaebol system at work. The Faustian deal between these megacorps and the citizens of South Korea means that it is impossible for Samsung to fail or to be accountable for their bad business decisions. South Korea is the most developed cyberpunk technofeudalistic society.

Who could know that refusing to patch critical bugs or, for that matter, to put any effort at all into software while constantly raising product prices would piss off the customers? It’s a mistery!

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..

Samsung sucks and most corporations in tech have horrible practices. At least the big ones. Profits over people is there motive. Tech should be human friendly

Numbers must only go up... no down

I used to be a huge fan of Samsung and it was the only things I bought. They aren't any better than competing brands and looking back now brand loyalty is just really dumb especially when the companies don't give a flying fornication about you. Buy something that works and in your budget. No more Samsung purchases from me.

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?

I stopped buying Samsung when they started with the Knox bullshit. I saw it as an anti-consumer move.

I know personally that I would never buy a Samsung phone again. The budget models are filled with ad/crapware. The premium models are expensive, gimmick laden and bad value.

The chairman of Samsung is a convicted criminal, by the way. Pardoned by the totally not corrupt president. Apparently he's such a genius that laws don't apply to him.

Fuck Samsung, I've had the worst experiences in all of tech with their support system. I had a bad ram module on my s22 and even used the Samsung Support app and had a tech point it out to me. Sent it in and apparently the repair center can't see those notes that the support dev had written. It took 3 tries and countless calls to support, and eventually got in contact with the office of the CEO, and they basically admitted their backend support is so fractured that someone with phone in hand can't see any notes any other tech had written. They then decided to give me a refund, which was for less than the receipt, and after fighting for another MONTH to get them to give me the correct funds, they finally sent it to me. 3 months in total. Fuck Samsung.

Couldn’t be the pricing! Nah. It’s the need for foldable phones

I got LineageOS official just waiting for when Samsung abandons me

People probably aren't enthused about buying an overpriced tv, fridge, washer, or phone that all come with bloatware and adware.

Poor functional design and atrocious security practices and culture will do that. Nothing to see here.

Maybe make better products, return to high QA, and deal with customers as customers and not enemies?

Nah, take on another L instead.

A lot of people here clearly don't understand how large of a company Samsung is, and what all they sell.

I bought 1 Samsung phone. Never again.

95% is huge. They been releasing too many models and their new phones are too expensive for me. they should follow apple and only release one every year

I have a four year old phone, and unless I do something stupid I don't know why I would change.

Performance is a non issue in 2023

Considering that Samsung is basically the South Korean government this may be worse news than it seems.

Because more and more people are using their phones until they quit. Who needs a folding phone?

I mean, what do new phones have that my 3 years old Galaxy Note 20 ultra doesn't have? If anything, at least I still have my external SD card slot, their new ones don't have it, AND they're more expensive. They can fuck right off with their $1000 phones. Everything went up except people's wages

Good. Fuck Samsung.

no surprise

yeah bruh, i have zero interest in a foldable phone or whatever the fuck.

I don't mind it when corporations lose money. Fuck 'em.