For the first time in years, Samsung posted a higher quarterly profit than Apple last Friday. The company made $6.93 billion in the past three months as it continued to dominate the smartphone market. Samsung shipped 72.4 million smartphones from April through June, outselling its biggest rival Apple more than 2 to 1.
However, like Apple, Samsung is starting to feel the effects of increasing saturation in the high-end smartphone market, in which the lion’s share of profits is generated. In the lower end of the market, where much of the future growth is expected to happen, Samsung faces increasingly stiff competition from Chinese manufacturers. Hence, the company warned investors that its growth might slow down in the current quarter.
Chart source: Statista