Published: Пт, Июля 06, 2018
Technology | By Christopher Mann

Samsung profits slow due to weak smartphone sales

Samsung profits slow due to weak smartphone sales

The electronics maker is reporting estimated profit of 14.8 trillion Korean won (USD$13.2BN) on revenue of 58 trillion Korean won (USD$51.9BN) for the quarter.

Samsung has struggled with "weaker-than-projected sales" of its Galaxy S9 smartphones, according to Bloomberg, which have reportedly sold the lowest of any flagship Samsung smartphone since 2012's Galaxy S3 with expected shipments of 31 million units this year.

You know how we all expected Samsung to launch two Galaxy S10 models next year featuring new designs?

Samsung's expectation just misses an average estimate of 14.9 trillion won from 18 analysts polled by Thomson Reuters, and shares in the company are down just over 2 per cent on the earnings guidance news.

Revenue likely came in at 58 trillion won ($51 billion), a decrease of almost 5 percent from a year earlier.

Samsung warned in April that its mobile business would see "stagnant sales of flagship models amid weak demand and an increase in marketing expenses" in the second quarter.

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The smartphone market has been slowing down in recent quarters.

It's also easy to imagine Samsung giving the Bluetooth-equipped stylus other features, like a Tile mate location option for tracking the pen in case you lose it or using the pen to find your phone.

The outlook for chips remains upbeat, with production of Apple's next iPhone likely to support NAND flash memory prices after they fell by up to 15 percent in the second quarter, according to chip price tracker DRAMeXchange.

"While chip sales keep rising, smartphones aren't looking good", said Jung Sang-jin, a fund manager at Korea Investment Management.

The won may also help Samsung to bounce back in the second half.

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