Samsung said Tuesday that second-quarter sales fell three percent to W58.5 trillion on-quarter while operating profit dropped five percent to W14.9 trillion (US$1=W1,120).
Revenue shed 4.1 percent over the year to 58.48 trillion won (52.27 billion USA dollars) in the June quarter, and net income inched down 0.1 percent to 11 trillion won (9.8 billion US dollars). Mobile accounts for around 40 per cent of its total revenue. Demand for DRAM is being driven by higher memory content in devices such as smartphones and a higher uptake from the server market. "The mobile market condition will likely remain challenging in the second half amid pricing competition and new product launches".
But earnings in the IT and mobile communications (IM) division tell a different story. Sales of Galaxy S9 and other flagship smartphones declined while it had to spend more marketing expenses to promote phones.
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The company expects revenue to exceed US$10 billion in 2018, following sales of US$9.8 billion in 2017, securing a strong second place in the foundry market. Instead, the smartphone's release is slated to disrupt the sales of the upcoming iPhone X Plus, at least in the short term anyway, Forbes reported.
Samsung said it expected "growing demand for flexible OLED panels to drive earnings higher in the second half" of the year.
The device, which was launched at Rs 16,990 in April, has got a price cut of Rs 3,000 and is now selling at Rs 13,990 through Amazon and offline retail outlets. Behind the achievement is the company's past investments, as well as a super cycle in the chip industry that drove profits across the sector.
Tesla loses $717.5mn in Q2, breaking own record from previous quarter
The recent addition of a new "tent" production line appeared to represent a parallel manual line for general assembly. The company cut its spending forecasts last quarter and Tesla has begun to lay off 9 per cent of its workforce.
A recent photo has leaked on Twitter showing the price range of the Samsung Galaxy Note 9. Samsung is once again expected to beat Apple in the operating profit category but by a difference of a hairline. for Q3 2018 which means a ratio of 25 percent. Same sources also claim that Samsung will shift towards Chinese manufacturer for some of the components in order to keep the prices as low as possible. "The development requires research not only in the display, but the battery, case and used materials".
Samsung's outlook on this year's second half is upbeat.
One area of interest that showed positive growth for Samsung was its TV business, which the company credited "a major global soccer event" for the boost in sales.
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