They still make massive amounts of revenue. They're just spending nearly as much. Companies have come back from worse.

I do question those numbers, Samsung is absolutely massive. There's is no way in hell that a decline in smartphone sales have any dramatic effect on their bottom line, let alone a 95% decline in profit. This has to be their smartphone division only, not Samsung the conglomerate.

That being said a drop of around $10.5B is still insane and it would destroy just about any other smartphone manufacturer except perhaps Apple. Still it would be a much bigger issue for Apple because they phone are are more central to their overall business. Samsung can transfer funds from other business ventures.

Why would a profitable company go bankrupt?

> It appears Samsung brought in a profit of 0.67 trillion ($523.5 million) Korean won (KRW), which is a drop in the bucket to the 14.12 trillion KRW ($11.06 billion) it made last year.

Their profit was _only_ 500 million dolars, while previously was 11 billion dollars. That's still profit. And I dare to say good profit.

Profits =/= revenue

For it to go bankrupt it would need to have negative profits, which means greater 100% drop in profits.

It's family owned, no?

5% profits are still profits.