Samsung Galaxy Note 9 goes up for reservations in the US

02 August, 2018, 23:53 | Author: Rodolfo Hawkins
  • An image of the Samsung Galaxy Tab A 10.5

"Second quarter revenue fell due to softer sales of smartphones and display panels, despite robust demand for memory chips", the company said in a statement.

The company made an operating profit of 14.87trn won ($13.3bn) on sales of 58.4trn won ($52.1bn) and revenue was down 4pc year on year. Now, Samsung has also given a price cut to the popular Galaxy J6 smartphone for the second time.

While Samsung's profit growth may have slowed, the company's chip sales have been stellar.

Samsung predicted a sustained strength in the memory chip market and a rising demand for flexible OLED panels that would drive earnings higher in the second half.

Samsung's chip division has seen mixed performance over the past few months.

Samsung's mobile woes drag on profit growth

Samsung's smartphone shipments and sales declined quarter-on-quarter amid the sluggish premium smartphone market, leading to the fall in sales and operating profit. Also available on the Galaxy S9, S8, and Note 8 smartphones, DeX essentially transforms your mobile device into a desktop computer. Samsung said it will increase the portion of 10-nanometer-class products and the mass production of 5th-generation V-NAND, while addressing demand for high-density server memory and high-bandwidth memory. A big feature for these types of devices is battery size and Samsung has been able to fit in a 7,300mAh capacity battery inside the 2018 Galaxy Tab A 10.5.

The company said it would bolster its flagship lineup by marketing the new Note 9 "at a reasonable price" and packing its middle-and-low end products with updated features to fend off competition. That work has fueled rumors of a foldable smartphone from Samsung for years. Notably, BOE, which is heavily subsidized by the government, is the world's leading large-panel maker for TV screens, and it is aggressively venturing into producing OLED displays, a market dominated by Samsung. 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.

It's also thought that Samsung will push its display technology to a new level with an unbreakable edge-to-edge screen that covers every corner of the phone.

Samsung Electronics plans to showcase the Galaxy Note 9 smartphone on august 9 and start full-fledged sales later in the month. KyeongTae Lee, vice-president of Samsung's mobile division, told analysts the company is "hoping that such adoption will serve as a catalyst in the stagnated mobile market".

Shares of Samsung Electronics traded at 46,150 won as of 10:03 a.m., down 0.75 percent from the previous session.

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