Samsung Electronics on Wednesday estimated that its profit in the last three months of 2018 was down nearly a third from the previous year's. It cited "lackluster" demand for what would mark its first quarterly decline in two years. The company’s market share for smartphones in China has slumped to less than 1%.
"Depressed demand in China will further drive down Samsung's chip sales there," Song Myung-sup, a senior analyst at HI Investment & Securities, told Reuters. And China's overall smartphone market is stalled and declining, which will affect not only Apple but Samsung."