Tech Giant Samsung Electronics has announced that it expects a 29% drop in the first quarter of 2019, due to a scarcity of memory chips and high demand for smart phones.

The South Korean Company faces stiff competition from Apple, Huawei, Xiaomi and Oppo. Other than that, the firm has suffered from production because of the growing demand for memory chips in mobile phones.

Meanwhile Samsung has announced it will be launching new TVs, Notebooks and robot companions in 2019