Well struggling may be an overstatement, however a rather shocking, yet unsurprising announcement from Samsung Electronics last week in regard to their expectations for the second-quarter operating profits to have dropped more than 50% on last year.
Dropping about 56 percent to 6.5 trillion, this is according to earning guidance released by the company this week.
The third Quarter of 2016 was the last time the profits were so low. This was during the Note 7 battery issues.
Samsung have given no explanation for the drop, however it has been speculated that the Huawei problems may have caused significant impact on Samsung’s chip business. However, could it not have caused an increase in handset sales
Things aren’t all bad for Samsung as they also received a $684 million reimbursal from Apple at they were unable to hit sales targets.
