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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[–] [email protected] 46 points 1 year ago (4 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.

[–] [email protected] 22 points 1 year ago (1 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.

[–] [email protected] 5 points 1 year ago (1 children)

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

[–] [email protected] 2 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 :(

[–] [email protected] 7 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.

[–] [email protected] 1 points 1 year ago (1 children)

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

[–] [email protected] 1 points 1 year ago

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

[–] [email protected] 0 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.

[–] [email protected] 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.

[–] [email protected] 5 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.

[–] [email protected] 1 points 1 year ago (1 children)

It's not just stagflation, it's greedflation

[–] [email protected] 1 points 1 year ago

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