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Samsung Electronics posts earnings growth in Q2 on brisk chip sales

02 August, 2018, 22:05 | Author: Arnold Gilbert
  • Galaxy A

Samsung Electronics on Tuesday said its second quarter net profit dipped slightly from a year earlier, with a fall in smartphone sales mitigated by strong demand for its memory chips.

In the Display Business, the Company saw weak demand for flexible OLED panels in the second quarter while the shipment and price for LCD panels also fell.

As the demand growth is forecast to remain strong in the second half, Samsung predicts the bit growth rates of the memory chips to hover around the middle of the 10 percent range.

TechRadar will be reporting live from the NY launch event to bring you everything you need to know about the Galaxy Note 9, including confirmation of its release date, on August 9. Samsung could choose to launch it here, but may wish to avoid competition for coverage from other brands.

Samsung faces an uphill battle against Apple in tablet sales, however.

The IT and mobile division, which oversees the smartphone business, posted an operating profit of 2.67 trillion won, falling 34 percent from 4.06 trillion won tallied a year earlier. 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.

The Galaxy Tab S4 WiFi version will be available in the United States starting at $649.99 on August 10, 2018 at Amazon, Best Buy and Samsung.com. The unit generated 11.6 trillion won in profits, about 80 percent of its total income.

Samsung on July 31 has confirmed that the Galaxy Note9 will be launched at a "reasonable price" while announcing its second-quarter earnings.

Despite releasing a series of iPhone-bashing commercials, Samsung's own smartphone sales are beginning to decline drastically. 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. Also, Samsung plans to strengthen price competitiveness and adopt advanced technology in the mass models.

Adding to its troubles, its vice-chairman Lee Jae-yong, scion of Samsung's founding family, was jailed a year ago for his part in the sprawling corruption scandal that brought down former president Park Geun-hye. Not much is known about any of these phones except for Samsung's Galaxy F, which has been featured in rumors and reports for more than two years.

For the first half of 2018, Samsung invested 13.3 trillion won in chips and 1.9 trillion won in displays, rolling out a combined 16.6 trillion won in facilities investment.

Samsung's fortunes in the mobile market are vital as mobile accounts for about 40 percent of its revenue.

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