Samsung has officially reported its financial statement for the fourth quarter of 2018 as nicely for the entire 20i8 fiscal year. The result reveals the company had to endure a sluggish growth rate in the fourth quarter of the year ending on December 31, 2018. That is since the income and running profit of the company declined but thankfully, the company’s result for the entire year was a record-setting one.
As stated by to formal information, introduced by the Sout Korean company, the sales of mobile devices was weak all year long. No matter this setback, the IT & Mobile Communications division noted gains on the back of 5G equipment installations and expansion of 4G networks. Thus, the company’s earnings are heading to optimize after the introduction of commercial 5G services in South Korea and the planned launch of the Galaxy S10 on February 20 at the Unpacked event in San Francisco, United States.
The firm’s memory chip sales were Furthermore not so incredibile in comparison to revenue generated from that arm of the company in the last 2 several years. The fourth quarter (Q4 2018) was the initial quarter due to the fact the beginning of 2017 that didn’t view a yearly increase. The company said major customers held back on orders, anticipating a further reduction in value.
On the whole, the company posted KRW 59.27 trillion in consolidated quarterly income, down 10 percent from a year announced, and KRW 10.8 trillion in quarterly running profit, down 29 percent. For the 2018 fiscal year, Samsung reported KRW 243.77 trillion in revenue and KRW 58.89 trillion in running profit. The technical giant says it will “aim to secure future growth by increasing income of high quality products and strengthening online and B2B businesses” this year.
