That’s the takeaway from Samsung’s latest earnings report, which stated that the Korean smartphone maker’s Q3 operating profits were just $3.8 billion, a 60 percent drop over last year.
And things are even worse in the mobile division, which dropped 73.9 percent year-over-year.
Now compare those numbers to Apple.
In the last quarter, Apple’s operating profits were $11.2 billion, up over 11% from a year ago.
It gets worse for Samsung. Samsung claims that overall sales were down almost 20% from a year ago, and mobile revenues were down by a shocking 34%.
Overall, it’s Samsung’s worst quarter since 2011.
Doesn’t seem like Samsung’s strategy of wantonly ripping off Apple’s designs is working out too well now, does it?
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