Samsung Electronics warned investors it was going to make a lot less money this quarter, and sure enough, the company just reported first-quarter earnings that show profits slid 60 percent compared to last year, from 15.64 trillion won (roughly $13.4 billion) to just 6.2 trillion won (about $5.3 billion).
But unlike Google earlier today, the company’s not blaming its expensive phones for anything whatsoever — Samsung says the Galaxy S10 lineup actually sold well, with the company shipping 78 million phones overall (as well as 5 million tablets) in the quarter, and that any weakness in phones can be explained by its low and mid-range models cannibalizing sales for last year’s Galaxy models. (A big part of Samsung’s new phone strategy is...
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