"Reasonably priced" Galaxy Note 9 launch date could have leaked

Samsung's mobile woes drag on profit growth

If Samsung didn't have its burgeoning chip business to boost up profits, the results could have been worse.

"Slumping sales of Galaxy S9 and an increase in marketing costs have hurt profit", Kim Yang-jae, an analyst at KTB Investment & Securities, said in a report. The latest Industry data has revealed that Samsung posted sales of $52.1 billion, but if you look carefully, the difference between the operating profits of both tech giants is nothing too extraordinary. 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.

The display panel business recorded an operating profit of 140 billion won (125 million US dollars) on revenue of 5.67 trillion won (5.07 billion USA dollars).

Samsung on July 31 has confirmed that the Galaxy Note9 will be launched at a "reasonable price" while announcing its second-quarter earnings.

Samsung Electronics is suffering slow sales of its Galaxy S9 smartphone and becoming increasingly reliant on sales of memory chips. Profits and revenues fell 65.9% and 24.8%, respectively, on quarter. Revenue in Samsung's mobile division declined 22 percent in the quarter to 22.67 trillion won ($20.2 billion).

Analysts expect Samsung's operating profit to reach over W17 trillion in the third quarter thanks to the booming semiconductor market.

In mobile, demand for high-density storage for new smartphones and high-end models is likely to remain robust.

Samsung said it expected "growing demand for flexible OLED panels to drive earnings higher in the second half" of the year.

But sales for Samsung were down even for the traditionally low-key quarter, as its flagship phones struggled to outshine the iPhone X and iPhone 8.

The world's biggest maker of memory chips and the flagship subsidiary of South Korea's Samsung group, the company has weathered a series of setbacks, including an embarrassing global recall of its Galaxy Note 7 smartphone due to exploding batteries in 2016.

"At Samsung, we believe tablets play an increasingly important role in making lives easier and improving the mobile experience for everyone", said DJ Koh, President and CEO of Samsung Electronics.

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

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