Samsung turns it around, forecasts massive jump in profit for Q1 2024
Samsung estimates it experienced a profit of $4.9 billion between January and March 2024.
This comes after the company reported declining profits for four straight quarters.
Sales have reportedly risen by more than 71%.
Last year wasn’t exactly the strongest year for Samsung and its various products. In fact, around this time last year, the company saw about a 95% decline in year-over-year earnings. But it looks like the Android phone maker may have turned things around, according to profit estimates.
CNN reports that Samsung expects to see a big increase in its profits this quarter. The Korean firm reportedly estimates that its operating profit has increased to 6.6 trillion Korean won ($4.9 billion). For comparison, the phone maker reported a profit of 640 billion Korean won ($478.55 million) in Q1 2023.
