Samsung’s Q4 2019 earnings report, released this week, revealed that the company had a torrid time in 2019. The company is hoping that foldable and yet more flagship products will lead the way to a better 2020.
Despite the botched release of the Galaxy Fold, Samsung is desperately hoping to be ahead of the curve on folding tech. However, while the company sees foldables as a huge opportunity, it also concedes that there are huge costs involved.
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“First quarter  profit from the mobile business is [expected to be] steady quarter-on-quarter, as new flagship and foldable models will improve sales but incur additional marketing costs,” said Samsung in it earnings call this week.
While the release of the Galaxy Fold made Samsung one of the first movers in the market, it divided opinion like few other devices in recent memory.
Samsung is likely to introduce cheaper foldables in 2020 with more accessible (but still high) price points.
But judging by Samsung’s 2020 forecasts, the company wants its premium products to lead the way.
Following some disappointing results in other parts of Samsung’s business, particularly memory chips and display panels, there is increasing pressure on the stronger mobile sector to pick up the slack.
Samsung said: “The mobile business aims to improve profits by expanding sales of premium models, such as the enhanced 5G lineup and new foldable devices. The network business will focus on addressing the global 5G market as its Korean business is set to shrink following last year’s nationwide 5G adoption.”
Samsung remains worried about “uncertainties” in 2020, but foresees a better commercial performance this year, as well as better sales of TVs and appliances to support planned phone sales.
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“Looking ahead to 2020, Samsung expects improvements in overall business performance but also sees continued uncertainties in the global business environment.
“In the consumer electronics division, the Company will seek to increase sales of QLED 8K TVs and launch new premium appliances such as Bespoke and new lifestyle models.”