this post was submitted on 29 Jul 2023
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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.

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[–] vrighter@discuss.tchncs.de 202 points 1 year ago (24 children)

each new phone is more expensive, with less functionality.

hover on the touch screen? gone

iris scanner, gone

headphone jack? gone

air pressure sensor? gone

humidity sensor? gone

ir blaster, gone

meanwhile I get charged out the ass for storage space.

Why the fuck would I want a newer phone?

[–] Eheran@lemmy.world 67 points 1 year ago (10 children)

Don't forget the SD card slot missing, S20 was the last one that had it. I still don't know what to get after that, just because of the missing SD.

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[–] Afrazzle@sh.itjust.works 45 points 1 year ago (6 children)

Also removable batteries gone

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[–] dgilluly@lemmy.world 93 points 1 year ago (8 children)

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.

[–] Myrbolg@lemmy.world 47 points 1 year ago (4 children)

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.

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[–] Oneobi@lemmy.world 22 points 1 year ago (7 children)

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.

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[–] hardypart@feddit.de 93 points 1 year ago (9 children)

When money is tight you might use your phone for a year or two longer. 1000 Euro phones also don't help the matter.

[–] vinnymac@lemmy.world 45 points 1 year ago (2 children)

While I don’t use a Samsung, I am over half way through my phones fifth year. Other than a battery replacement I’ve had literally no problems whatsoever.

If only lifespan and right to repair were written into law everywhere.

[–] Zeth0s@lemmy.world 38 points 1 year ago (12 children)

Software updates are the problem unfortunately

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[–] Polar@lemmy.ca 90 points 1 year ago (20 children)

Sorry. I'm just trying not to get evicted due to living in a country with the highest rent, internet, food, and data plan prices.

[–] bighatchester@lemmy.world 40 points 1 year ago (1 children)
[–] Polar@lemmy.ca 32 points 1 year ago (1 children)
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[–] pizzazz@lemmy.world 89 points 1 year ago (10 children)

Drops in profits can mean investments, new hires and a myriad of other stuff. No meaning in the headline whatsoever. Profits are not revenue.

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[–] Amilo159@lemmy.world 60 points 1 year ago (11 children)

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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[–] Hazdaz@lemmy.world 57 points 1 year ago (1 children)

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!!!

[–] SCB@lemmy.world 60 points 1 year ago (9 children)

Dude a 95% drop in profits YOY is most assuredly newsworthy

[–] ryannathans@lemmy.world 33 points 1 year ago (1 children)

Maybe if it was revenue. Such a drop in profits could be from many ordinary business operations like expansion

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[–] YaksDC@lemmy.world 48 points 1 year ago (13 children)

Foldable devices seem like the 3d TVs of the last couple of years. I will not be getting one any time soon.

[–] WhatASave@aussie.zone 29 points 1 year ago (1 children)

After having one, it's really amazing and the form factor and random utility it brings (built in tripod, easy to aim flash light and be hands free). The screens just need work. The crease is a non-issue as far as using the phone, but the little screen protectors that manufacturers say not to take off will deteriorate after like 6 months.

I think it's close though and I do often miss my foldable.

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[–] Snapz@lemmy.world 43 points 1 year ago

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.

[–] PlatypusXray@feddit.de 42 points 1 year ago (5 children)

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!

[–] whereisk@lemmy.world 21 points 1 year ago

I can't believe that the whole Android ecosystem -and I mainly blame Google, let Apple outplay it at system updates. It was always going to come to a head as people keep their phones longer and longer.

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[–] kingshrubb@lemmy.world 42 points 1 year ago (30 children)

Maybe they could stop taking features away from their phones. Put a micro SD and aux jack back and I'd buy one

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[–] profdc9@lemmy.world 39 points 1 year ago (5 children)

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.

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[–] fleetw16@lemmy.world 35 points 1 year ago (12 children)

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..

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[–] Macropolis@lemmy.world 31 points 1 year ago (1 children)

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

[–] andy_wijaya_med@lemmy.world 23 points 1 year ago

All corporations are going for profit. None of them are thinking about you.

[–] Throwaway4669332255@lemmy.world 29 points 1 year ago (1 children)

Numbers must only go up... no down

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[–] jacktherippah@lemmy.world 29 points 1 year ago (7 children)

I stopped buying Samsung when they started with the Knox bullshit. I saw it as an anti-consumer move.

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[–] lemmy@coeus.sbs 27 points 1 year ago (1 children)

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.

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[–] arc@lemm.ee 27 points 1 year ago (25 children)

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.

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[–] p000l@lemmy.sdf.org 24 points 1 year ago (8 children)

I don't even want to buy a new phone. It's been more than four years. What great productive work are most people doing on them anyway?

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[–] salient_one@lemmy.villa-straylight.social 23 points 1 year ago (1 children)

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.

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