Samsung Electronics Profit Growth Slows in Q2

The Galaxy A8 was a decent mid-ranger

The Galaxy A8 was a decent mid-ranger

Samsung said the system LSI and foundry businesses would benefit from higher demand for mobile Aps and image sensors, noting that flexible OLED shipments would rise despite the intensifying competition. The Korean won weakened against the U.S. dollar but rose against the euro and several other key currencies, resulting in a negative impact of net KRW400 billion on the quarterly operating profit compared with the previous quarter.

The consumer electronics division, including the visual display and digital appliances businesses, posted 10.4 trillion won in sales and 510 billion won in operating profit for the second quarter. The company also said it's taking various steps to improve its competitiveness in the mobile business, including an early Galaxy Note 9 launch, cutting-edge technology, new form factors, and gaining leadership in 5G tech.

Net income attributable to the shareholders of the parent company for the second quarter of 2018 rose 1.68 percent to 10.98 trillion Korean won from 10.80 trillion won past year.

However, the company said Monday that strong semiconductor sales and higher prices for its display panels should drive new record-breaking earnings in the next quarter.

Competition would heat up in the coming months as new smartphone models were released, it added.

Samsung's chipmaking unit, which dominates the global market after the firm invested tens of billions of dollars to build and expand factories, provides chips for the company's own devices as well as those manufactured by competitors including Apple.

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Undoubtedly, the Samsung Galaxy Watch and Note 9 will be displayed at IFA.

Data released by market tracker Counterpoint Research in July showed Samsung's latest Galaxy 9 Plus premium handset had been overtaken by Apple's iPhone 8 as the world's top-selling smartphone.

The Samsung Galaxy Note9 is expected to come with a 6.32-inch OLED display panel which is relatively larger than last year's Galaxy Note 8.

The price has also apparently been set for the rumored 512GB model. The company said it plans to showcase various QLED models to meet with the high seasonal demand expected for later this year. Samsung, while still the world's largest smartphone maker, saw its shipments down 2.4 percent in the first quarter, IDC reported in May. Samsung reported $2.39 billion in operating income for its handset division, down from $3.6 billion a year ago.

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

Samsung shares slid 0.5 percent by 0254 GMT, compared with 0.1 percent drop in the broader market .KS11 . The second-quarter report was announced before the stock market's opening Tuesday.

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