Today, Samsung posted its Q2 2023 financial results. The report says Samsung's profits have dropped considerably compared to last year.
Samsung sees 95% drop in profits for a second consecutive quarter::Today, Samsung posted its Q2 2023 financial results. The report says Samsung's profits have dropped considerably compared to last year.
This is a sign of an upcoming recession if we aren't already in one. People are starting to run out of their savings due to stagflation and are looking for areas to cut. Buying a new phone every year or every other year and replacing laptops every 5 years are among the first things to go in anyone's budget.
So currently the only people refreshing their devices are the people who NEED new devices.
Capitalist economies always need spends out of desire and not just necessity.
Worst part is instead of reversing the gouging these companies will probably just go ham on the planned obsolescence.
As a Samsung user of 6 years, mainly due to job phone policy, I say they deserve it.
Great screens, but gawddamn they aren't worth their price. No charger, no headphone jack, no expandable storage, fingerprint sensor that are iffy and damn OS taking up 30% of your storage, no matter which option you go for.
I like the camera and s-pen on my S22u but that's it. They need to lower price and make competent mid range phones again, like the A52s.
And remember, nobody is actually losing money, they just aren't making as much as they'd hoped. You make shitty products and you homogenized with Apple losing anything that made you distinct and close to worthwhile. Fuck Samsung, all my homies hate Samsung.
Yeah, this is the chaebol system at work. The Faustian deal between these megacorps and the citizens of South Korea means that it is impossible for Samsung to fail or to be accountable for their bad business decisions. South Korea is the most developed cyberpunk technofeudalistic society.
Who could know that refusing to patch critical bugs or, for that matter, to put any effort at all into software while constantly raising product prices would piss off the customers? It’s a mistery!
Lol everyone commenting it's because THEY don't want to buy a new phone. Samsung supplies screens, electronic internals for other companies, and a fuck ton of appliances. They don't only make phones..
Samsung sucks and most corporations in tech have horrible practices. At least the big ones. Profits over people is there motive. Tech should be human friendly
I used to be a huge fan of Samsung and it was the only things I bought. They aren't any better than competing brands and looking back now brand loyalty is just really dumb especially when the companies don't give a flying fornication about you. Buy something that works and in your budget. No more Samsung purchases from me.
I know personally that I would never buy a Samsung phone again. The budget models are filled with ad/crapware. The premium models are expensive, gimmick laden and bad value.
The chairman of Samsung is a convicted criminal, by the way. Pardoned by the totally not corrupt president. Apparently he's such a genius that laws don't apply to him.
Fuck Samsung, I've had the worst experiences in all of tech with their support system. I had a bad ram module on my s22 and even used the Samsung Support app and had a tech point it out to me. Sent it in and apparently the repair center can't see those notes that the support dev had written. It took 3 tries and countless calls to support, and eventually got in contact with the office of the CEO, and they basically admitted their backend support is so fractured that someone with phone in hand can't see any notes any other tech had written. They then decided to give me a refund, which was for less than the receipt, and after fighting for another MONTH to get them to give me the correct funds, they finally sent it to me. 3 months in total. Fuck Samsung.
95% is huge. They been releasing too many models and their new phones are too expensive for me. they should follow apple and only release one every year
I mean, what do new phones have that my 3 years old Galaxy Note 20 ultra doesn't have? If anything, at least I still have my external SD card slot, their new ones don't have it, AND they're more expensive. They can fuck right off with their $1000 phones. Everything went up except people's wages