Samsung's mobile communications vice president, Lee Kyeong-Tae, acknowledged in an earnings call that sales of its flagship Galaxy S9 and S9+ had been "weaker than expected", as his unit reported a 22 percent drop in sales revenue to $20.2 billion. Samsung has a new one you might want to check out.
In South Korea noticed a poster on which the date of start of sales of the new flagship of Samsung. ETNews says that this is less than Samsung had planned to sell the phone for. Its bendable screen technology recently passed key U.S. safety testing, a crucial step in coming to market.
Over the mid- and long-term, Samsung expects new opportunities in the component business from the ongoing transformation in the industry, led by the Internet of Things (IoT), artificial intelligence (AI) and 5G technologies.
U.S. buyers who want the LTE version can get theirs from Verizon starting on August 10, as well, although it's not clear what the privilege of cellular connectivity will add to the base price of the Tab S4. In the company's lengthy earnings statement, it writes: "In response, Samsung will seek to expand sales by introducing a new Galaxy Note earlier than usual".
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).
Samsung's fortunes in the mobile market are vital as mobile accounts for about 40 percent of its revenue. 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's Memory business posted its strongest ever quarter, with operating profits rising by 44% year-over-year to 11.6 trillion won ($10 billion), driven by continued strength in DRAM demand and pricing.
While total sales fell 4.1% year-on-year to 58.48 trillion won, the company's mobile division was particularly hard hit, with revenues plunging 22% in the same period.
The consolidated net profit was 11.04 trillion won ($9.85 billion).
Weak sales of its flagship smartphone, the Galaxy S9, drove down earnings but robust demand for premium TVs - thanks to soaring interest in the World Cup - and memory chips helped boost operating profit almost six%.