Samsung’s Q1 2023 earnings report wasn’t just bad, it was really bad

Credit: Ryan McLeod / Android Authority

Samsung has reported its earnings in the first quarter of 2023.
The report reveals that Samsung saw a 95% profit decline.
Samsung’s chip division is responsible for a majority of the loss.

Times are tough for the smartphone market. Due to factors like inflation, demand is weak at the moment. According to the latest earnings report from Samsung, this slow market has really inflicted some pain on the company’s financials.

According to a report from CNBC, Samsung experienced a massive drop in profit during the first quarter of 2023. The manufacturer, in fact, saw a jaw-dropping 95% decline in year-over-year earnings.

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