Published: Fri, July 06, 2018
Tech | By Constance Martin

Slow Galaxy S9 sales end Samsung's record profit run

Slow Galaxy S9 sales end Samsung's record profit run

The Korean electronics giant said Thursday that it expects to record an operating profit of 14.8 trillion Korean won ($13.2 billion) for the three-month period ended June 30, an increase of 5 percent over the year-ago-period.

"Overall, third-quarter profit will be stronger than the second quarter as Samsung will perform better in the semiconductor and display businesses", Song Myung-sup, an analyst at HI Investment & Securities, said.

While Samsung's vague statement fails to show performance and profit estimates for each business division, reports claim the firm's smartphone division, in particular its flagship Galaxy S9 and S9+ smartphones, are to blame for the slowdown.

Samsung, which has reported record profits for every quarter in the past 12 months, on Friday released its earnings guidance for the second quarter of 2018. This contradicts reports that the Galaxy S10 will be unveiled first.

Samsung is expected to launch the Galaxy S10 in February 2019. The iPhone 8 was trailed by the Galaxy S9 Plus, iPhone X, Xiaomi Redmi 5A, and the iPhone 8 Plus.

Meghan Markle and Serena Williams cheer on Prince Harry at the polo
Also in attendance were some of the world's top polo players and VIPs including Tom Holland , Anna Friel and Dominic Cooper . Royal etiquette specialist Myka Meier believes Harry and Meghan's PDA is why the public admires their relationship so much.

The new phone is expected to have a 6.38-inch display, slightly bigger than the current model's 6.32-inches.

Samsung, Apple and Huawei are rumored to be working on foldable smartphones. However, it didn't reveal any detail about its anticipated foldable handset.

The lack of design change coupled with incremental upgrades such as a specs bump, a minor camera upgrade along with the variable aperture mode was not sufficient to turn the tides in the company's favor.

Samsung hopes its foldable phone would improve its profit.

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