Samsung profits fall 95%, but why it is not the company's 'problem' alone

Samsung's profits for the second quarter of 2023 suffered a massive 95% decline due to the continuing decline of smartphone sales. However, much of the impact on Samsung's smartphone business is not just caused by the company's Galaxy devices. Samsung Electronics supplies memory, storage, and displays to other smartphone makers and the general fall in smartphone shipments across all brands has also affected Samsung's business. Reports predict a positive recuperation for the smartphone market in the second half of 2023, which should boost Samsung's business due to its component-based business.

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