Samsung sees profit growth slow in Q2 as competition heats up

Samsung sees profit growth slow in Q2 as competition heats up

Samsung sees profit growth slow in Q2 as competition heats up

Bucking the trend, the semiconductor sector posted record highs in both revenue and operating profit.

All in all, Samsung Electronics has finally been hit by the sluggish smartphone demand all around the world.

"For NAND, demand remained robust on the back of the continuing trend toward higher density for smartphones and the increase in demand for server SSD due to expansion of cloud infrastructure". "Profit growth is likely to be minimal considering slowing demand and intensifying competition".

By contrast, mobile competition is tipped to stay strong in the second half of 2018. It can also be used to navigate, translate and organize notes through Samsung Notes, and even send personalized texts through Samsung Live Message.

Overall, the company reported $13.3 billion in profit, up 6 percent from the same time a year ago, on $52.1 billion in revenue.

On the other hand, Samsung's handset business reported a big fall in quarterly profit from a year earlier.

Samsung has hopes that in the second half of the quarter the OLED demand will rise, and Apple's plan of introducing two new OLED iPhones would definitely help with that.

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"Earnings from LCD also declined from the previous quarter as the shipment and average panel price continued the downward trend", it added. Its phone business reported 2.67 trillion won in operating income during the three-month period, compared with 4.06 trillion won a year earlier.

Despite releasing a series of iPhone-bashing commercials, Samsung's own smartphone sales are beginning to decline drastically.

Samsung is pushing to launch Galaxy Note earlier this year, since they've already confirmed the launch event which will take place August 9. Analysts were estimating that the smartphone giant only shipped around 31 million Galaxy S9 phones since its release in March. The phone was launched in 2016 and almost around fifty million units were shipped.

Samsung has also brought Samsung DeX to the tablet for the first time. In addition a sooner-than-expected launch date for its next generation Galaxy Note model, Samsung will work towards more competitive pricing and quicker adoption of future technology overall, throughout all of its lines of product. Samsung is set to launch a new Note next month.

As for specifications, Galaxy Note 9 is expected to come with a 6.3-inch QHD+ Super AMOLED display. One of the variants is said to offer 512GB storage, a first on any Samsung phone ever.

The company expects revenue to exceed US$10 billion in 2018, following sales of US$9.8 billion in 2017, securing a strong second place in the foundry market. Earnings from the TV business will continue to improve as Samsung expands sales of new innovative premium models including QLED and 8K TVs.

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