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Technology

Nickolas Diaz

Smartphone shipments fell, but not as much as Samsung's profits

Samsung CNBC Counterpoint Research

The larger cover display of the Samsung Galaxy Z Flip 5

What you need to know

Samsung has posted 60.01 trillion KRW revenue earned in Q2, a 6% drop from Q1 2023.
The drop was attributed to the sharp 24% YoY decline in the smartphone industry during Q2.
Q2's downturn was predicted but Samsung remains confident that its recent foldables can turn things around going into Q3.

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