Samsung Elec Q2 profit up 5.7 pct on-year, buoyed by chips

Samsung Galaxy A8

Samsung Galaxy A8

Recently, Samsung launched Galaxy J8 smartphone in the Indian market.

"For OLED, earnings decreased QoQ despite improved factory utilization for rigid products, as demand from major customers for flexible panels remained slow", Samsung noted.

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.

Revenue for the April-June period fell 4 percent to 58.5 trillion won, broadly in line with Samsung's earlier estimate.

Samsung came out with a rosy outlook on the product sector in the second half, citing anticipation of continuing demand regarding server expansion and the release of new smartphones that are to use its chips.

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

Looking forward, Samsung expects its profits to edge higher in the second half of 2018, thanks to "sustained strength in the memory market and growing demand for flexible OLED panels". With growth in the premium smartphone market stagnating but the competition intensifying, handset makers have increasingly struggled to increase their profit. The unit saw operating profit fall by 29 percent due to underwhelming sales of its latest flagship smartphone, the Galaxy S9.

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It could be a possibility that Samsung's budget smartphones are not finding many buyers or company is having afterthoughts about the pricing.

Samsung officially lifted the lid off of its Galaxy Tab S4 tablet, and well before its Galaxy Note 9 Unpacked event that is set to take place next week.

In terms of specs, the Galaxy Tab S4 runs Android 8.1 and features a 10.5-inch Super AMOLED display, 13MP and 8MP cameras, a Qualcomm Snapdragon 835 octa-core processor, and a 7,300mAh battery that Samsung says offers up to 16 hours of video playback.

A rise in costs for marketing new models also dealt a blow, the company said. The company said it plans to showcase various QLED models to meet with the high seasonal demand expected for later this year. By segment, the chip business accounted for 6.1 trillion won, followed by the display division with 1.1 trillion won. 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.

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

Analysts also noted Samsung's ongoing failure in China, where it previously owned a double-digit share of the market.

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