Samsung confirms terrible earnings for the holiday quarter, and it will only get worse - AppleInsider
Appleinsider.com - Tue 8 Jan 19:55 GMT

Samsung confirms terrible earnings for the holiday quarter, and it will only get worse - AppleInsider

Samsung is warning that it expects profits to be down more than Apple's revision, because of the worsening Chinese economy inducing weak memory demand coupled with a bad smartphone market -- and at least the next two quarters are likely going to be impacted a…

  Samsung is warning that it expects profits to be down more than Apple's revision, because of the worsening Chinese economy inducing weak memory demand coupled with a bad smartphone market -- and at least the next two quarters are likely going to be impacted as well.

  That's below earlier expectations, and results for the past two quarters, though Samsung tends to stagger major product releases throughout the year, instead of favoring the September and December quarters like Apple.

  Samsung said it was hurt by a drop in memory demand from data center customers and a simultaneous dip in memory prices caused by a lack of consumer and manufacturer demand.

  While it controls less than 1 percent of the Chinese smartphone market versus Apple's 9 percent, its memory and processors are used by many smartphone makers.

  Samsung's news follows shortly after Apple predicted its own revenue shortfall for the December quarter, with revenue estimated at $84 billion versus prior guidance between $89 billion and $93 billion.