Samsung Electronics reports lower-than-expected profit - 7/30/2018 7:57:07 PM

Samsung Galaxy A8

Some analysts predict the company's operating profit for the next quarter may reach 17 trillion won on the back of continuing demand for semiconductors throughout the year. Bucking the trend, the semiconductor sector posted record highs in both revenue and operating profit. Its phone business reported 2.67 trillion won in operating income during the three-month period, compared with 4.06 trillion won a year earlier.

Samsung's fortunes in the mobile market are vital as mobile accounts for about 40 percent of its revenue. Samsung's overall operating profits slid almost 5% sequentially to KRW14.87 trillion in the second quarter.

TechRadar will be reporting live from the NY launch event to bring you everything you need to know about the Galaxy Note 9, including confirmation of its release date, on August 9. Profits and revenues fell 65.9% and 24.8%, respectively, on quarter. During the second quarter, its semiconductor business generated 11.61 trillion won ($10.39 billion) in operating profit, almost 80 percent of the entire operating income. Appliance sales were low (apparently people aren't buying air conditioners like they used to), but as predicted last quarter, TV sales were strong, "helped by a major global soccer event". It offset weak demand for Samsung-made air conditioners.

Samsung said it expected "growing demand for flexible OLED panels to drive earnings higher in the second half" of the year. Samsung solidified its competitive positioning by focusing on value-added products, including 64GB and higher-density server DRAM based on the 1X nanometer technology and 128GB and higher for NAND mobile storage.

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Samsung said sales of Galaxy S9 smartphones slowed while its flagship memory chip business continued to post a robust result.

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.

"We are hoping that such adoption will serve as a catalyst in the stagnated mobile market", said KyeongTae Lee, vice president of Samsung's mobile business, in a statement to analysts.

It brought the total spent in the first half to 16.6 trillion won (14.8 billion US dollars).

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