Last Thursday, Samsung announced that it is expecting significant earnings by 2020 even after it experienced a downfall based on 2019 values. It announced that its memory chip would make it big in 5g networks.
Samsung announced that it has the world's biggest memory chip which could make it a potentially growing company by the time that 5G networks evolve. It has recently been announced that Samsung has had its worse financial year since 2015 in 2019 prompting it to ensure the market that it would rebound soon.
Samsung also prided itself on being given positive guidance from its partners such as Intel Corp and TSMC. It claimed that its chip prices would improve its market performance after experiencing years of decline.
The company reported that it incurred an operating profit of 7.16 trillion USD. The value was said to be 34 percent down compared to its own previous estimate. Samsung's net profits also fell by 38 percent yielding only 5.2 trillion USD with a revenue loss of one percent amounting to 59.9 trillion USD.
In an official statement, Samsung failed to enunciate the issues that affected its profitability. Instead, it was announced that in 2020, the company would experience improvements in its overall business performance and would expect continued uncertainties in the global business environment.
For the first quarter of 2020, Samsung said that it has expected a decline in its earnings due to low seasonal demand. Its fourth-quarter operation profit was also down by almost have to 3.45 trillion in Samsung's chip division. Its mobile division profit, however, improved by 67 percent amounting to 2.52 trillion USD.
It was then discussed that the global developments concerning 5G technology and its expansion have been monitored closely by the company. Samsung then hinted that demand may be picking up around mass-market models. The said improvement was forecasted to be due manufacturers reeling into 5g lineup expansions.
In other news, Business Insider reported that Samsung might release a new foldable smartphone this year. It was also rumored that it might be better than its rival model Motorola Razr.
The rumors claimed that the new smartphone model might be named as Galaxy Z Flip. It would then be valued at 1,500 euros and might be released by February 14, 2020. The official announcement was said to occur during Samsung's Unpacked even by February 11, 2020, at San Francisco, California.
The said rumors about the latest model was said to have originated from Evan Blass, a renowned gadgets leaker.
