Samsung turns it around, forecasts massive jump in profit for Q1 2024

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Credit: Edgar Cervantes / Android Authority

• Samsung estimates it experienced a profit of $4.9 billion between January and March 2024.
• This comes after the company reported declining profits for four straight quarters.
• Sales have reportedly risen by more than 71%.

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Last year wasn’t exactly the strongest year for Samsung and its various products. In fact, around this time last year, the company saw about a 95% decline in year-over-year earnings. But it looks like the Android phone maker may have turned things around, according to profit estimates.

CNN reports that Samsung expects to see a big increase in its profits this quarter. The Korean firm reportedly estimates that its operating profit has increased to 6.6 trillion Korean won ($4.9 billion). For comparison, the phone maker reported a profit of 640 billion Korean won ($478.55 million) in Q1 2023.

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