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 95 points 1 year ago (20 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 48 points 1 year ago (4 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 9 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 :(

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