Samsung profit misses estimates in second quarter

Otis Hoffman
July 6, 2018

A new filing by the FCC in the USA shows the upcoming Samsung Galaxy Note 9 S-stylus will have Bluetooth capabilities. The company expects to report 14.8 trillion won ($13.2 billion) in profit and 58 trillion won ($51.8 billion) in revenue for the period.

The Korean technology giant said Friday it expects its operating profit last quarter dropped by 5.4% compared with the previous three months, to 14.8 trillion won ($13.2 billion)-the first such quarterly fall for nearly two years.

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"Overall, third-quarter profit will be stronger than the second quarter as Samsung will perform better in the semiconductor and display businesses", Song Myung-sup, an analyst at HI Investment & Securities, said.

The smartphone market has been slowing down in recent quarters.

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Samsung kept on registering record operating profits, quarter after quarter for seven straight quarters until Q2 2018 finally arrived, putting a stop to the tech juggernaut's progress once and for all. Now, an exclusive report from AllAboutSamsung is offering some technical details on the S10's triple-camera setup.

Expectations are high for Samsung's foldable phone, which provides a bigger display experience when not folded. The iPhone 8 was trailed by the Galaxy S9 Plus, iPhone X, Xiaomi Redmi 5A, and the iPhone 8 Plus. The device will enter mass production later this year ahead of its unveiling in the first month of 2019. "They will provide a good experience to consumers if we make them well", Koh said at the time.

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The Tame Apple Press claims the news means that Samsung's lead over Apple in the global smartphone market is under pressure. However, it looks like the company might be changing a key element of the device.

Other reports by Info About Network

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