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.
Or simply that prices have become insane. Good phones used to be around 400, taking me a few days to think about it and say yes. Now they are beyond 1000, so I will do my best to avoid having to upgrade and go with custom ROMs again. In the meanwhile, we also lost exchangeable batteries, external SD cards, and microphone jack, and we gained more Google spyware and bloat.
Good phones used to be around 400, taking me a few days to think about it and say yes. Now they are beyond 1000
I’m not sure what you mean by a “good” phone. Like yeah, they came up a bit. A Pixel 7a costs $499, and if one wants wireless charging and a better camera they can go with the Pixel 7 for $599. Regular non-Pro iPhones are around the same price.
Like yeah, folding phones are well over $1,000 in most cases, but personally I think that’s a gimmick, my hot take. But for me and 99% of the people I know, we’re sticking with our slab smartphones.
I bought a m52 a while ago on a black friday promotion or something like that for 280. It’s the most expensive phone I ever bought (usially i try to stay under 200). I know that for some that is peanuts, but I have it hard to justify spending so much money on a phone. 1000 for a phone is something I would never be able to do. The thing I do like about it is the quality of the photos and the ease to connect with my wireless buds.
I remember reading vague claims that this was expected by samsung and it was just the cost of something they did some years ago to eliminate competition. Unfortunately I don’t have anything more concrete but someone else might know and add a comment.
Samsung isn’t on planet earth with their prices. I was avoiding them anyway because I believe TouchWiz is an inferior interface than stock Android. Just way too much bloat.
You’re the only one I’ve heard of who was happy with it. One of the guys I worked with, traded a new at the time Galaxy S-series phone back into his carrier to exchange for an iPhone because it was very laggy. After seeing one in action I didn’t blame him. It was laggier than my cheap Moto G series, which had a lot less processing power and slower storage. And this was back in 2017, so not too awfully long ago. But maybe things have changed since then.
Like with everything you need to invest time to learn the features. If you just want a phone with basic capabilities then you are better off getting other brands.
The spen itself is packed with so many features but rarely does anyone bother learning them. Samsung have developed a powerhouse for productivity and unfortunately that means I’m stuck with them because nothing else compares.
Everyone is on their own journey and I agree that it is not for everyone.
Part of my job still is to help people connect their work email to their personal smartphones, if they want to. Many buy Samsungs because their carrier’s store still sells them up front compared to other brands of Android. Though it’s mostly A-series phones.
The problem with it is that Samsung doesn’t put the access to the features in convenient or intuitive locations so many users just get used to not using them anyway. The only feature, I as a Pixel user envy over Samsung is the right side menu thing. But anyone with iPhone experience or experience using an Android that has gesture nav enabled by default, wouldn’t think to try it even with the spen because that is the gesture to go back.
Ofc Pixels can do multitask yet many don’t realize that because you have to click the app icons at the top of the recent apps screen to access the menu for it. So I guess I don’t have room to talk about that aspect as a Pixel user.
But Bixby? I honestly think it’s a waste of resources for Samsung when they could have just used Google Assistant like other brands. I mean Bixby is okay but still lacks in some areas, but Samsung invested a lot of resources and effort into it just to come up with something that barely keeps up with Google’s Assistant.
Also I’m not a huge fan of their app drawer still. I guess I’m more of a “I just want to see an alphabetical list of all apps” on the app drawer type of person.
Tbh, might not be a bad time to do it as long as you don’t sink yourself into debt too much or have to take out high interest loans. Because if the crash happens while you’re studying and by the time you graduate things might start recovering again. I guess we’ll see.
You hit the nail on the head for me. I loved my Galaxy S9+ but it was over 4 years old and literally falling apart. I just replaced it with an S23…but also as others have said, I think the S9+ was better. I’m especially having issues with the camera (look up bananagate) and my old car doesn’t have Bluetooth so I have a USB C to Aux adapter that randomly cuts out sound so for a lot of drives I just put the sound up on my phone speakers and play directly.
Exactly, they’re amazing and last forever, no need to ever buy two! I’ve had my Samsung tablet now for 9 years and it’s still going strong (though I’ve replaced the battery twice, but I can’t blame Samsung for the realities of battery chemistry haha), it’s still the best screen I’ve used too, bloody fantastic big AMOLED display.
Until this thing breaks down one day I’ve no need to buy any more Samsung stuff! Though when it does, I can’t wait to see what other amazing tablets they’ve cooked up in the intervening years :-D
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
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.
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.
Try that with a screen protector on 20 series and you’ll see what I mean. With other brands using optical sensor, you don’t need to worry about it at all.
But you can say this about any phone company these days (besides Sony, they still have it all) or you can blame them for taking the ‘apple’ direction of taking away everything and charging more.
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’m also in that zone of being in the market for things that Samsung sells, but to me, the brand association is with having all of these issues that don’t seem very worth it to me. I just want something affordable and reliable, things that I don’t associate with Samsung.
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I’ve said it before and I’ll say it again.
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.
Or simply that prices have become insane. Good phones used to be around 400, taking me a few days to think about it and say yes. Now they are beyond 1000, so I will do my best to avoid having to upgrade and go with custom ROMs again. In the meanwhile, we also lost exchangeable batteries, external SD cards, and microphone jack, and we gained more Google spyware and bloat.
I’m not sure what you mean by a “good” phone. Like yeah, they came up a bit. A Pixel 7a costs $499, and if one wants wireless charging and a better camera they can go with the Pixel 7 for $599. Regular non-Pro iPhones are around the same price.
Like yeah, folding phones are well over $1,000 in most cases, but personally I think that’s a gimmick, my hot take. But for me and 99% of the people I know, we’re sticking with our slab smartphones.
Good phones are still $400. They just have this ridiculous tier now that is even higher
I had a Pixel 3a for years. It was a great phone and it was $350. Eventually it stopped getting updates :(
I bought a m52 a while ago on a black friday promotion or something like that for 280. It’s the most expensive phone I ever bought (usially i try to stay under 200). I know that for some that is peanuts, but I have it hard to justify spending so much money on a phone. 1000 for a phone is something I would never be able to do. The thing I do like about it is the quality of the photos and the ease to connect with my wireless buds.
I remember reading vague claims that this was expected by samsung and it was just the cost of something they did some years ago to eliminate competition. Unfortunately I don’t have anything more concrete but someone else might know and add a comment.
The gouging is insane. £300+ for a tablet keyboard case for the s9 ultra.
I got one free as a preorder for the s8 ultra. No chance I am paying that much for a keyboard.
Samsung isn’t on planet earth with their prices. I was avoiding them anyway because I believe TouchWiz is an inferior interface than stock Android. Just way too much bloat.
Bloat is negligible. In fact it is their software that keeps me stuck with samsung. Its a total superior hardware and software experience.
Just wished they hadn’t gone down the Apple courage route and bumped the price and pimped the features.
You’re the only one I’ve heard of who was happy with it. One of the guys I worked with, traded a new at the time Galaxy S-series phone back into his carrier to exchange for an iPhone because it was very laggy. After seeing one in action I didn’t blame him. It was laggier than my cheap Moto G series, which had a lot less processing power and slower storage. And this was back in 2017, so not too awfully long ago. But maybe things have changed since then.
2017 was a long time ago.
Like with everything you need to invest time to learn the features. If you just want a phone with basic capabilities then you are better off getting other brands.
The spen itself is packed with so many features but rarely does anyone bother learning them. Samsung have developed a powerhouse for productivity and unfortunately that means I’m stuck with them because nothing else compares.
Everyone is on their own journey and I agree that it is not for everyone.
Part of my job still is to help people connect their work email to their personal smartphones, if they want to. Many buy Samsungs because their carrier’s store still sells them up front compared to other brands of Android. Though it’s mostly A-series phones.
The problem with it is that Samsung doesn’t put the access to the features in convenient or intuitive locations so many users just get used to not using them anyway. The only feature, I as a Pixel user envy over Samsung is the right side menu thing. But anyone with iPhone experience or experience using an Android that has gesture nav enabled by default, wouldn’t think to try it even with the spen because that is the gesture to go back.
Ofc Pixels can do multitask yet many don’t realize that because you have to click the app icons at the top of the recent apps screen to access the menu for it. So I guess I don’t have room to talk about that aspect as a Pixel user.
But Bixby? I honestly think it’s a waste of resources for Samsung when they could have just used Google Assistant like other brands. I mean Bixby is okay but still lacks in some areas, but Samsung invested a lot of resources and effort into it just to come up with something that barely keeps up with Google’s Assistant.
Also I’m not a huge fan of their app drawer still. I guess I’m more of a “I just want to see an alphabetical list of all apps” on the app drawer type of person.
Even my iPad keyboard (the folio from Apple) “only” cost like £180. Samsung’s going nuts.
But don’t Samsung at least throw in the spen?
damn and I just start my studies at the university :(
Tbh, might not be a bad time to do it as long as you don’t sink yourself into debt too much or have to take out high interest loans. Because if the crash happens while you’re studying and by the time you graduate things might start recovering again. I guess we’ll see.
You hit the nail on the head for me. I loved my Galaxy S9+ but it was over 4 years old and literally falling apart. I just replaced it with an S23…but also as others have said, I think the S9+ was better. I’m especially having issues with the camera (look up bananagate) and my old car doesn’t have Bluetooth so I have a USB C to Aux adapter that randomly cuts out sound so for a lot of drives I just put the sound up on my phone speakers and play directly.
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I bought 1 Samsung phone. Never again.
Exactly, they’re amazing and last forever, no need to ever buy two! I’ve had my Samsung tablet now for 9 years and it’s still going strong (though I’ve replaced the battery twice, but I can’t blame Samsung for the realities of battery chemistry haha), it’s still the best screen I’ve used too, bloody fantastic big AMOLED display.
Until this thing breaks down one day I’ve no need to buy any more Samsung stuff! Though when it does, I can’t wait to see what other amazing tablets they’ve cooked up in the intervening years :-D
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
Good. Fuck Samsung.
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.
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.
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I love the spen, and never had trouble with the finger print scanner… But you nail the rest of the list.
Fingerprint issues were my biggest complaint on Note 20, coming from S9, that was a huge let down.
Huh, I guess I just got lucky, or have “typical” finger prints!
Try that with a screen protector on 20 series and you’ll see what I mean. With other brands using optical sensor, you don’t need to worry about it at all.
I have a screen protector on my s22u, without a problem.
As I said, maybe I’m just lucky. /Shrug.
Which kind? One that fully adhere to screen or the kind with glue on edges and circular area near sensor?
But you can say this about any phone company these days (besides Sony, they still have it all) or you can blame them for taking the ‘apple’ direction of taking away everything and charging more.
Numbers must only go up… no down
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A lot of people here clearly don’t understand how large of a company Samsung is, and what all they sell.
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
All corporations are going for profit. None of them are thinking about you.
People probably aren’t enthused about buying an overpriced tv, fridge, washer, or phone that all come with bloatware and adware.
What
are
you
talking
about
I might buy a fridge from them if they could make one that lasted more than 10 seconds after the warranty was up.
I’m also in that zone of being in the market for things that Samsung sells, but to me, the brand association is with having all of these issues that don’t seem very worth it to me. I just want something affordable and reliable, things that I don’t associate with Samsung.
I stopped buying Samsung when they started with the Knox bullshit. I saw it as an anti-consumer move.
yeah bruh, i have zero interest in a foldable phone or whatever the fuck.
They still made around $1/2 BILLION.
I love how every headline about their earnings focuses on the drop from before and not on the actual number they made.
Boo-fucken-hoo the record profits they were making the last few years couldn’t be sustained forever. Oh noes!1!!!
Dude a 95% drop in profits YOY is most assuredly newsworthy
Maybe if it was revenue. Such a drop in profits could be from many ordinary business operations like expansion
It states in the article that it is from less than expected sales, no?
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To be fair, apples done those things and we said the same thing about those moves. And now look at em.
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Samsung doesn’t have Apple’s ecosystem.
Yep, exactly the reason Apple created it, and why I’ll never buy an Apple product.
Same reason I switched to Android ten years ago. Sometimes I want to install an unsigned project.
I’m a tinkerer. Give me that Android freedom any day.
True, however a lot of people really don’t care about that stuff which somehow often gets overlooked here and on reddit.