South Korea becomes first country to launch 5G serivces

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It would represent the firm's lowest operating profit since the third quarter of 2016, and comes after it reported its first fall in quarterly profit for two years in January.

The second-largest TV maker in the world, second only to Samsung, estimates that its first-quarter operating profit was 899.6 billion won ($790 million), compared with 1.1 trillion won ($967 million) in the same period past year.

In a media release the company shared on April 5th, Samsung estimated consolidated sales of approximately 52 trillion Korean Won (KRW), or about $61.2 billion CAD.

According to Bloomberg, data centers are still going through their unused memory chips right now, Apple has cut its forecasts for iPhone sales and China's economy, which is Samsung's largest market for embedded components, has also slowed down this year. It is also a decline of 42.6% from the previous quarter. Samsung has developed a visual display that fully immerses consumers in the high-quality HD content, games, augmented reality and video conferencing made possible through 5G. Last year, semiconductors contributed to more than 70 percent of its operating profit for the company that also produces phones, TVs, and electronic appliances.

Samsung shares were flat as of 0120 GMT, while the broader market up 0.2 percent.

Telecom giant Samsung Electronics on Friday released the Galaxy S10 5G, the world's first available smartphone with built-in fifth-generation communications, as South Korea seeks to build a lead in the transformative technology.

Samsung's smartphones meanwhile are struggling to be profitable due to rising costs of innovation, competition from Chinese rivals and weakening demand for premium models, analysts have said. Recent reports suggest that it may be launched on Verizon next month.

But he was released in February past year after several of his convictions were quashed on appeal.

The downturn in the global memory semiconductor market is the main cause, which was further exacerbated by declining prices of display panels.