Samsung Overhauls Phone Business Model and Drops Support for Several Devices

Samsung's financial department has ordered a complete revision of its business model due to the general phone market malaise and the chip business logging its first loss in 14 years. To offset the Q2 performance forecast, Samsung is planning to pull the announcement of its 2023 foldables much earlier than usual. The Device Experience division, which houses the smartphone business, managed to score $3 billion in profits, but it wasn't enough to offset the drastic decrease in profits from Samsung's TV or home appliances business in Q1.