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Samsung isn’t doing as well as expected: the company behind the Samsung Galaxy S4 only made £5.5bn profit this spring. Jeez Samsung, is that all?
Samsung made 9.5 trillion won profit between April and June, 500 billion won shy of the results industry experts were expecting.
Samsung’s hugely popular Galaxy range of Android phones drive the company’s continued profit, making Samsung the biggest manufacturer of phones in the world.
They’re still selling like the proverbial hot cakes — almost half of the smart phones sold in Europe are now Samsung Galaxy phones, and the S4 has shipped 20 million. But sales aren’t exploding at the pace demanded by stock market analysts, with many cutting their forecasts on today’s announcement.
It’s not just Samsung seeing disappointing sales: the smart phone market is nearing saturation point, and manufacturers are being forced to look at alternatives. Cheaper phones for developing markets are increasingly important for driving sales, although by definition they don’t do much for profits. And the next big thing is set to be wearable technology, such as the hotly rumoured iWatch smart watch.
Samsung has plenty of stuff in the works: it’s reported to be about to strap on its own smart watch, while the Galaxy Note 3 is expected in September.
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