Samsung Electronics profit growth slows on smartphone weakness

07 July, 2018, 03:01 | Author: Julian Harrison
  • Samsung Galaxy X

Samsung expects its second-quarter profit growth to be its lowest in more than a year, amid reports of lackluster sales of its flagship Galaxy S9 smartphones. These results are expected to be posted on the last Friday of the month following the quarter, so stay tuned for more updates on the matter.

Operating profit is expected to come to 14.8 trillion won ($13.2 billion) for the April-June period, higher than the 14.07 trillion won in the same period in 2017, but down from the record 15.64 trillion won of the previous quarter.

The Tame Apple Press claims the news means that Samsung's lead over Apple in the global smartphone market is under pressure.

A report said a few months back that the Galaxy S10 will be unveiled at CES 2019 next January, rather than in February at MWC, which is the usual home for Samsung's Galaxy S announcements. But as early as now, analysts are viewing its second quarter performance as the first decrease in seven quarters.




The report suggests that the Galaxy X will pack a large battery setup. It is said that the phone would be held shut by magnets and that the display would turn on automatically when the hinge is open.

New monthly data released on Thursday by mobile phone market tracker Counterpoint Research highlighted Samsung's problems, showing its latest Galaxy 9 Plus premium handset had been overtaken by Apple Inc's iPhone 8 as the world's top-selling smartphone due to weak sales in Europe. A folding phone can't be easy to make, hence why it's supposed to be playing it safe by only making a limited number of devices.

That said, Samsung may have liked the look of its Google-seeded smartwatch and changed its plans.

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