this post was submitted on 29 Jul 2023
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Samsung sees 95% drop in profits for a second consecutive quarter::Today, Samsung posted its Q2 2023 financial results. The report says Samsung's profits have dropped considerably compared to last year.

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[–] dgilluly@lemmy.world 94 points 1 year ago (6 children)

I've said it before and I'll say it again.

This is a sign of an upcoming recession if we aren't already in one. People are starting to run out of their savings due to stagflation and are looking for areas to cut. Buying a new phone every year or every other year and replacing laptops every 5 years are among the first things to go in anyone's budget.

So currently the only people refreshing their devices are the people who NEED new devices.

Capitalist economies always need spends out of desire and not just necessity.

Worst part is instead of reversing the gouging these companies will probably just go ham on the planned obsolescence.

[–] Myrbolg@lemmy.world 47 points 1 year ago (3 children)

Or simply that prices have become insane. Good phones used to be around 400, taking me a few days to think about it and say yes. Now they are beyond 1000, so I will do my best to avoid having to upgrade and go with custom ROMs again. In the meanwhile, we also lost exchangeable batteries, external SD cards, and microphone jack, and we gained more Google spyware and bloat.

[–] uberkalden@lemmy.world 10 points 1 year ago (1 children)

Good phones are still $400. They just have this ridiculous tier now that is even higher

[–] Neflubaguzzi@lemmy.world 4 points 1 year ago

I had a Pixel 3a for years. It was a great phone and it was $350. Eventually it stopped getting updates :(

[–] dgilluly@lemmy.world 2 points 1 year ago

Good phones used to be around 400, taking me a few days to think about it and say yes. Now they are beyond 1000

I'm not sure what you mean by a "good" phone. Like yeah, they came up a bit. A Pixel 7a costs $499, and if one wants wireless charging and a better camera they can go with the Pixel 7 for $599. Regular non-Pro iPhones are around the same price.

Like yeah, folding phones are well over $1,000 in most cases, but personally I think that's a gimmick, my hot take. But for me and 99% of the people I know, we're sticking with our slab smartphones.

[–] Pofski@lemmy.world 1 points 1 year ago

I bought a m52 a while ago on a black friday promotion or something like that for 280. It's the most expensive phone I ever bought (usially i try to stay under 200). I know that for some that is peanuts, but I have it hard to justify spending so much money on a phone. 1000 for a phone is something I would never be able to do. The thing I do like about it is the quality of the photos and the ease to connect with my wireless buds.

[–] Oneobi@lemmy.world 21 points 1 year ago (2 children)

The gouging is insane. £300+ for a tablet keyboard case for the s9 ultra.

I got one free as a preorder for the s8 ultra. No chance I am paying that much for a keyboard.

[–] Sheltac@lemmy.world 6 points 1 year ago (1 children)

Even my iPad keyboard (the folio from Apple) “only” cost like £180. Samsung’s going nuts.

[–] Oneobi@lemmy.world 2 points 1 year ago

But don't Samsung at least throw in the spen?

[–] dgilluly@lemmy.world 3 points 1 year ago (1 children)

Samsung isn't on planet earth with their prices. I was avoiding them anyway because I believe TouchWiz is an inferior interface than stock Android. Just way too much bloat.

[–] Oneobi@lemmy.world 2 points 1 year ago

Bloat is negligible. In fact it is their software that keeps me stuck with samsung. Its a total superior hardware and software experience.

Just wished they hadn't gone down the Apple courage route and bumped the price and pimped the features.

[–] blarco@lemmy.world 9 points 1 year ago (1 children)

You hit the nail on the head for me. I loved my Galaxy S9+ but it was over 4 years old and literally falling apart. I just replaced it with an S23....but also as others have said, I think the S9+ was better. I'm especially having issues with the camera (look up bananagate) and my old car doesn't have Bluetooth so I have a USB C to Aux adapter that randomly cuts out sound so for a lot of drives I just put the sound up on my phone speakers and play directly.

[–] Nighed@sffa.community 1 points 1 year ago

I got a cigarette lighter usb port to provide power to a Bluetooth -> aux dongle. Works well.

[–] 5BC2E7@lemmy.world 6 points 1 year ago

I remember reading vague claims that this was expected by samsung and it was just the cost of something they did some years ago to eliminate competition. Unfortunately I don't have anything more concrete but someone else might know and add a comment.

[–] eee@lemm.ee 4 points 1 year ago (1 children)

It's not just stagflation, it's greedflation

[–] dgilluly@lemmy.world 2 points 1 year ago

Sadly I don't think greedflation is an official term. Stagflation was the closest I know about anyway.

[–] BreadKof@lemmy.world 3 points 1 year ago (1 children)

damn and I just start my studies at the university :(

[–] dgilluly@lemmy.world 1 points 1 year ago

Tbh, might not be a bad time to do it as long as you don't sink yourself into debt too much or have to take out high interest loans. Because if the crash happens while you're studying and by the time you graduate things might start recovering again. I guess we'll see.