Samsung had a smashing 2018 performance with multiple record-breaking quarters, mostly thanks to a boom in memory chips demand. Now the effect is wearing off and the Q4 guidance, posted by the Korean company is quite disappointing.
Samsung posts Q4 guidance, profit goes down 38%
In a short press release, Samsung said the expected consolidated sales are approximately KRW59 trillion, while the operating profit should be around KRW10.8 trillion. These numbers are down respectively 38% and 10% from the previous quarter, while on a yearly basis, sales declined 28% and profit is down 10%.
The company traditionally posts full detailed results in the last week of the month, following the quarter. The results might look tough, but Samsung said this is expected and 2019 will probably bring more of the same as the demand for memory chips returns to its pre-2017 levels.