Samsung profit shrinks due to Galaxy S9 sales in Q2 2018

Samsung profit shrinks due to Galaxy S9 sales in Q2 2018

Samsung profit shrinks due to Galaxy S9 sales in Q2 2018

The outlook for the memory chip business remains strong across all applications thanks to demand for server and PC memory as well as new mobile product launches.

By contrast, mobile competition is tipped to stay strong in the second half of 2018. "The product mix keeps delivering for Samsung", he added. The latest device from Samsung to get a price cut is Galaxy J6.

Like other big electronics firms, Samsung faces challenges from the US-China trade war, falling prices of some memory chips and the rise of cheap Chinese-made handsets. However, the company reckons demand for its flexible OLED technology will improve in the second half of this year. That ended six straight quarters of earnings growth. Samsung released its earnings guidance earlier this month and now it has confirmed that slow Galaxy S9 sales have been one of the main reasons behind the fall in profits. The company also claimed that intensified global competition affected its performance.

The shipment of the Galaxy S8, released in 2017, came to 37.5 million units on its first year, while that of the Galaxy S7 hit 48.5 million units in 2016.

The official leak comes a week before Samsung's much hyped NY event, where the company is expected to unveil a new Galaxy Note smartphone and had been tipped to launch tablets, a smartwatch, and potentially its first smart speaker.

According to industry watchers, Samsung might be able to outpace Apple for the entire 2018 fiscal year.

Patently Apple also claims that the report published by the US Patent Office describes the use of ultrasonic technology based biometric scanner for smartphones. The company launched their first Galaxy Tab tablet back in 2010 and since then it has evolved into multiple series of devices at different price points. "Samsung will seek to expand sales by introducing a new Galaxy Note earlier than usual", it continued. Coming to the figures, the Korean tech giant posted an operating-profit-to-sales ratio of 25.4% in the second quarter by generating sales of $52.1 billion and $13.11 billion in operating profit. "Looking ahead, Samsung expects sustained strength in the memory market and growing demand for flexible OLED panels to drive earnings higher in the second half". The company said it plans to showcase various QLED models to meet with the high seasonal demand expected for later this year.

Following a successful restructuring of its product line-up, Samsung led expansion of the premium TV market, winning more than 50 per cent market share in the ultra-large screen segment of 75-inches and above. You can go to Samsung's site or its app on Google Play Store, and submit your name, email ID, and carrier model of choice to reserve the smartphone.

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