Samsung is having a good quarter, to say the least, considering that its Q2 profits are up by almost 50%. Interestingly, though, the tech giant has seen its smartphone division slow. This should come as no great surprise since the market is quickly becoming saturated with smartphone devices and we are seeing demand slow down. After a while, the new devices are not that much of a jump from the last, which means that users may be staying with their current devices for longer periods of time.
Samsung’s mobile division constitutes the larger part of the company, and while it has risen 52% in profits, that figure is actually down from last quarter.
But Samsung head of investor relations Robert Yi is somewhat optimistic, saying, “Entering into a typically strong season for the IT industry, we expect earnings to continue to increase…However, we cannot overlook delayed economic recovery in Europe and risks from increased competition for smartphone and other set products.”
Source: Tech Crunch