Samsung announces first profit growth in two years, but mobile sales continue to dwindle

samsung q3 financial results sign
Samsung reported $45.6 billion in revenue and $6.4 billion in operating profit during the third quarter, ending on Sept 31. This was the company’s first operating profit growth in two years, supported primarily by sales in the semiconductor and display markets.

Mobile sales hit their lowest point last year, with Samsung losing $5 billion in year-on-year sales. The recent quarter, however, added $500 million back to the company’s operating profit in the mobile sector, but this profit growth still lags behind Apple.

To make matters worse, Samsung is starting to lose Android customers in the same price market as Apple. It had to lower the prices of high-end phones to compete with Apple, offering a $120 cashback deal for customers in the United States.

Samsung did make strides in the low and mid-range mobile market, but it has not regained the same position it enjoyed in 2012. Other providers, including Huawei, Xiaomi, and Micromax, have stolen a lot of Samsung’s market share in India, China, and Indonesia.

The company predicts a better fourth quarter for smartphone sales, but claims mobile sales are slowing. It will therefore focus on promoting software advantages on Samsung devices in the future, including the new payments service Samsung Pay, in a bid to win back customers. Bringing more customers into the ecosystem should keep them loyal to the company.

Samsung announced large stock buyback and shareholder return programs, which managed to lift the firm’s stock price despite a rather poor quarter in terms of financial results. The company will buy back $10 billion of its shares over the next year, and will share between 30 and 50 percent of its operating profit with shareholders in the form of dividends.

While Samsung certainly isn’t surging like it was two years ago, investors are mostly happy with its return to operating profit growth. And in time its growing semiconductor and display businesses could prove even more useful than the mobile sector, which makes up one-third of the company’s revenue.

Product Review

It looks like a concept, but the Lexus LC500 is very much a real-life stunner

The LC500 sports car combines exotic looks, a raucous V8 engine, sumptuous interior, and responsive steering to make one of the most compelling Lexus-badged models ever and one of the sexiest vehicles on sale.

Samsung exec confirms upcoming Galaxy S10 will sport 'very significant changes'

While we still may be months away from an announcement, there's no doubt about it: Samsung is working hard on its successor to the Galaxy S9. Here's everything we know about the upcoming Samsung Galaxy S10.

Amazon to crack down on employees who sell confidential info to merchants

Amazon's massive growth in recent years has led to an internal black market where some employees are paid for insider data or illicit services to help merchants gain an edge. Amazon is determined to root out this corruption.

OPINION: Apple’s new iPhones show off its best tech, and also its greed

We’re just as enamored by the new iPhones as the next person, but with fast charging an extra cost and the removal of the headphone dongle it feels like Apple is gouging us on accessories.
Social Media

How to turn off Snapchat’s location-based Snap Map

Thanks to an opt-in feature added last year, Snapchat may be sharing your location with friends whenever you open it. Here, we'll walk you through how to turn off said feature off and regain some peace of mind.

Find out how Apple's new iPhones measure up to the most bezel-less designs

As the smartphone industry marches toward a bezel-less future, we compare the shrinking bezels on the latest and greatest devices. Find out which manufacturers have the smallest bezels on their smartphone as we measure them side by side.

Mi 8 Pro looks like an iPhone, but has a feature Apple fans can only dream of

Xiaomi has launched two new phones in the Mi 8 family: The Mi 8 Pro and the Mi 8 Lite. Unlike the past models, these two are definitely going to be sold internationally. Here's what you need to know about them both.

iOS 12's Siri Shortcuts help Apple close the digital assistant gap

Siri may be lagging behind the competition, but Apple is finally supercharging the digital assistant with Siri Shortcuts, which allows you to perform tasks quickly and easily. Here's how to use iOS 12's new Siri Shortcuts app.

Apple iPhone XS vs. Samsung Galaxy S9: 2018’s biggest flagships clash

The iPhone XS has been revealed, and it's one of the best phones of the year. But even though it's Apple's latest and greatest, it's up against a lot of competition. Is the iPhone XS better than the Samsung Galaxy S9?

Just $100 buys you this super-tough — and very cool — G Shock fitness watch

Casio has announced a new Bluetooth-connected fitness watch in its G Shock line. The GBD-800 has an all-new digital display, fitness tracking technology, a classic G Shock look, and an attractive price.

The best weather apps for the iPhone

Don't rely solely on your local meteorologist to stay up to date on the weather. Take matters into your own hands with one of these weather apps, each of which brings something unique to the table.

Be an online phantom and web surf safely with Ghostery’s mobile browser

Keeping your private information to yourself has become progressively harder in the internet age. If you're worried about your personal information, check out the new version of the Ghostery browser for iOS and Android.

Updating to Apple’s iOS 12 will make your iPhone a whole lot smarter

iOS 12, the latest version of Apple’s iOS, is officially here. We took it for a spin to check out its new noteworthy features, and if it truly changes our smartphone habits for the better.

OnePlus 6T may launch soon with in-display fingerprint sensor, dual cameras

According to a recent report, the launch of the OnePlus 6T could be different from any other OnePlus launch in history. How? It could have the backing of a major U.S. carrier. Here's everything we know about the OnePlus 6T.