Samsung warns its profits will drop 60% as smartphone demand slumps

Posted by & filed under Smartphone.

Samsung is feeling the chill from cooling global demand for smartphones.The South Korean technology giant said Friday that it expects operating profit for the first quarter to plunge by 60% compared to the same period year ago.Samsung (SSNLF) warned last week that its earnings would be hit by slowing demand for memory chips and display panels, a sign that… Read more »

Xiaomi Shows Off Scorching Growth Ahead of $10 Billion IPO

Posted by & filed under Apple, Smartphone.

Xiaomi Corp., going for wow-factor ahead of what could be the largest initial public offering since 2014, has revealed a blistering pace of growth that’ll help it take on Apple and Samsung in global smartphones. The Chinese smartphone maker filed for an IPO in Hong Kong Thursday, kicking off a process that’s expected to raise at least… Read more »