south korean technology samsung recently published its financial results for the second quarter of 2023, with a drop in profit of 84.5%. At the same time, more and more young South Koreans prefer the rival’s products. applein particular his iphone.
Compared to the same period in 2022, Samsung posted a sharp drop in profit due to lower demand for semiconductors, the chips and chipsets that make up our phones.
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Sharp drop in profits during the 2nd quarter of 2023
More specifically, Samsung posted a 10% drop in consolidated revenue compared to last year. Among the causes mentioned is the low demand for its memory solutions, the memory chips and modules manufactured by its dedicated department.
On the other hand, the department responsible for the production of panels and screens also registered a contraction, especially in the segment of screens for mobile devices. Its television and big screen department narrowly escaped loss.
However, we are on a very positive note in the smartphone and mobile department with sales of the Samsung Galaxy S23 range going better than expected. By the way, the same was registered in its television segment. premiumThe most expensive.
Samsung expects a gradual recovery throughout 2023
In any case, Samsung registered a net profit of close to 1.2 billion euros during the second quarter of 2023. It was a drop compared to last year, but one that does not seem to worry technology too much.
By the way, according to the brand, a gradual recovery is expected during the second half of the year. Especially now that they have presented the new generation of folding smartphones with the Samsung Galaxy Z Flip5, Galaxy Z Fold5as well as new smart watches galaxy6 watch and new range Android tablets Galaxy Tab S9.
On the other hand, last March we witnessed a historic milestone when Apple surpassed, for the first time, Samsung in the volume of mobile phones sold. In other words, the brand with the bitten apple overtook the South Korean Samsung there.
Young South Koreans prefer Apple iPhones
In fact, the supremacy of Apple can be attributed to young people who mostly prefer Apple iPhones to domestic solutions.
The publication specifies that among young people between the ages of 18 and 29, around 65% opt for Apple products, with a preference for the Apple iPhone. This figure increased by around 13% compared to last year’s figures, demonstrating the growing appetite for Cupertino solutions.
On the other hand, consumers between the ages of 30 and 39 prefer Samsung solutions at around 56%, although the evolution trend in this segment will also favor Apple. Following the age scale, for consumers over the age of 40, a total of 78% prefer South Korean solutions from Samsung.
Older age groups prefer Samsung Galaxy smartphones
This trend continues in groups over 50, also preferring Samsung’s own solutions over its North American competitor. However, it is undeniable that the young public is increasingly surrendering to the Apple iPhone and tends to be a more loyal consumer to the brand.
Always according to the same source, among the main reasons for this preference for Apple is its strong connotation of luxury, the segment premium. This added to the weak devaluation of the product, in addition to the capabilities of Apple’s iPhone.
Furthermore, even its payment system, Apple Pay, is now also available in South Korea, helping Tim Cook’s brand steal more consumers from Samsung.
Overall, with strong brand loyalty and a growth trend, particularly among the younger age groups, Apple’s future in South Korea is assured. Now it will be up to Samsung to try to reverse this trend among young consumers.