Samsung expected to see smallest profits yet
- Author: Kara Saunders Jul 06, 2018,
Jul 06, 2018, 22:53
The rumours suggest that we may see a Gear S4 at the Galaxy Note 9 launch event in NY on August 9th.
The Korean technology giant said Friday it expects its operating profit last quarter dropped by 5.4% compared with the previous three months, to 14.8 trillion won ($13.2 billion)-the first such quarterly fall for nearly two years. The Galaxy S9 has some great Android alternatives out there - ironically, a lot of them are iPhone X clones.
Samsung revealed in a press release that its consolidated sales for the second quarter were around 58 trillion won or U.S.$52 billion.
"We expect weak Galaxy S9 sales to be the main driver of the quarter-on-quarter earnings decline", Daiwa Capital Markets analyst S.K. Kim said. The Galaxy S7 is likely to remain the company's best-selling phone, with 50 million units sold in the first year. The device will enter mass production later this year ahead of its unveiling in the first month of 2019.
The new phone is expected to have a 6.38-inch display, slightly bigger than the current model's 6.32-inches.
"We are preparing for foldable phones very intensely".
Samsung shares are down about 12 percent this year on concerns over slowing profit growth and a lack of technological innovation to drive smartphone sales. The company has filed for a patent for a smartphone that shows the device's body with flexible display.