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FILE - The Samsung Galaxy Fold phone is shown on a screen at Samsung Electronics Co. Ltd.’s Unpacked event in San Francisco, Feb. 20, 2019. Samsung says it will look into some reports of flickering or cracking screens. VOA

Hit by weak demand in the memory chips and displays, Samsung Electronics on Tuesday reported a massive 60 per cent drop in operating profit (year-on-year) in the first quarter of 2019.

The company, however, said the newly-launched Galaxy S10 smartphone is generating solid sales.


It shipped 78 million smartphones and five million tablets in the quarter.

Samsung posted operating profit of 6.2 trillion won (nearly $5.4 billion) – from 15.64 trillion won (roughly $13.4 billion) last year — and quarterly revenue of 52.4 trillion won which fell 13.5 per cent.

“The Semiconductor business saw a drop in memory chip prices as inventory adjustments continued at data centre companies, while demand for high-density memory for mobile phones increased thanks to new flagship smartphones,” said the South Korean giant.

Samsung said it expects limited improvement in the memory chip market in the second quarter, as demand will likely begin to improve for major applications such as mobile products but price declines will likely continue.

The display panel business reported a quarterly loss due to decreased demand for flexible displays and increasing market supplies for large displays.


The new Samsung S10 phones are displayed Feb. 20, 2019, in San Francisco. Samsung is hailing the 10th anniversary of its first smartphone with three new models that it hopes reverses a sales slump in an industry recycling the same ideas. VOA

In the IT & Mobile Communications (IM) division, despite solid sales of the Galaxy S10, profitability in the mobile business declined (YoY) as competition intensified in the low- to mid-range segment.

Samsung said it will strengthen its product line-up through innovations such as Galaxy S10 5G and Galaxy A80 and continued reorganization of its product offerings.

For the second half, despite intensified market competition, Samsung expects smartphone sales to increase led by new models in all segments from the Galaxy A series to the Galaxy Note amid strong seasonality.

Also Read- Google’s Parent Company ‘Alphabet’ Stock Down 7% Over Slow Ad Growth

“In the premium segment, the company will strengthen its leadership through the new Galaxy Note as well as its innovative products such as 5G and foldable smartphones,” Samsung said.

It means that Samsung’s much-awaited foldable device “Galaxy Fold” that met with cracking screen controversy may arrive in the later part of the year.

Sales of premium TVs such as QLED TVs and ultra-large size models contributed to the (YOY) earnings growth in the Consumer Electronics (CE) division, the company added. (IANS)


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Hackers have stolen crypto tokens worth $120 million from Blockchain-based decentralised finance (DeFi) platform BadgerDAO.

Hackers have stolen crypto tokens worth $120 million from Blockchain-based decentralised finance (DeFi) platform BadgerDAO. Several crypto wallets were drained before the platform could stop the cyber attack. In a tweet, Badger said it has received reports of unauthorised withdrawals of user funds. "As Badger engineers investigate this, all smart contracts have been paused to prevent further withdrawals. Our investigation is ongoing and we will release further information as soon as possible," the company said late on Thursday.

According to the blockchain security and data analytics Peckshield, the various tokens stolen in the attack are worth about $120 million, reports The Verge. According to reports, someone inserted a malicious script in the user interface (UI) of their website. Badger has retained data forensics experts Chainalysis to explore the full scale of the incident and authorities in both the US and Canada have been informed. "Badger is cooperating fully with external investigations as well as proceeding with its own," it said. DeFi is a collective term for financial products and services that are open, decentralised and accessible to anyone. DeFi products open up financial services to anyone with an internet connection and they are largely owned and maintained by their users. While the attack didn't reveal specific flaws within Blockchain tech itself, it managed to exploit the older "web 2.0" technology that most users need to use to perform transactions, according to reports. (IANS/ MBI)


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Kishan said that the organisers have been asked to strictly follow all Covid-19 protocols.

A total of 120 top Bollywood and other celebrities are expected to attend the wedding of film stars Katrina Kaif and Vicky Kaushal which is scheduled on December 9 in Rajasthan, said Rajendra Kishan, the District Collector (DC) of Sawai Madhopur district of the state on Friday. The District Collector told mediapersons: "These 120 guests shall follow all COVID-19 protocols and fully vaccinated guests will get entry in the much-hyped celebrity wedding."

Kishan said that the organisers have been asked to strictly follow all Covid-19 protocols. Also, those who are not vaccinated, will not be allowed without the negative RT-PCR test report, he added. "We have been informed by organisers that a total of 120 guests are invited to the wedding and the events will take place between December 7 to December 10," he added.

Earlier at 10.30 a.m., Kishan called a meeting which was attended by administrative, police and forest department officials, hotel and event managers to ensure adequate arrangements for crowd control, smooth regulation of traffic, and law and order situation amid the VIP movement. The wedding venue Fort Barwara, that has been converted into a heritage hotel, is situated in the panchayat samiti Chauth Ka Barwara. The venue is around 22 km away from Sawai Madhopur and is around 174 km from Jaipur. Sawai Madhopur district is famous for the Ranthambore National Tiger Reserve and as per reports, the guests are likely to be taken for a tiger safari. (IANS/ MBI)


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The National Centre for Biological Sciences (NCBS), which confirmed the first two cases of the Omicron variant in Bengaluru on Thursday, is continuously monitoring the situation in four cities - Bengaluru, Hyderabad, New Delhi, and Pune. The NCBS is a part of a consortium of national laboratories performing genomic surveillance across four city clusters. The consortium was established four months ago with support from The Rockefeller Foundation's Pandemic Prevention Institute, and is led by the Centre for Cellular and Molecular Biology (CCMB) in Hyderabad.

Dr Rakesh Mishra at the CCMB said on Friday that the consortium is continuously monitoring the situation in all the four cities and has upscaled its efforts to sequence as many samples as possible Apart from the CCMB and the NCBS, the consortium includes CSIR-Institute of Genomics and Integrative Biology - IGIB in New Delhi and the Pune Knowledge Cluster, Indian Institute of Science Education and Research (IISER), Pune, and CSIR-National Chemical Laboratory in Pune.

covid virus The first case of the Omicron variant was detected in South Africa and reported to the World Health Organization on November 24. | Unsplash

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