Samsung officially announces the Galaxy Tab S4 to take on iPad Pro

Galaxy A

Samsung's mobile woes drag on profit growth

The Galaxy Note 9 will cost you a pretty penny, as we're looking at Samsung's most expensive phone to date.

But total sales fell 4.1 percent year-on-year to 58.48 trillion won, with the company's consumer electronics and mobile businesses suffering.

The earnings results reflect Samsung's troubles in shoring up its mobile business even as the company enjoys resilient sales of memory chips.

Operating profit from Samsung's mobile business saw its steepest rate of decline since Q1 2017, as cheaper handsets put increased pressure on its margins. The unit generated 11.6 trillion won in profits, about 80 percent of its total income.

"The semiconductor sector fell short of expectations but its outlook for the second half of this year is rather positive as demand for DRAM chips is solid".

Samsung has always been rumoured to working on a super-flexible smartphone with a foldable display, and it hopes these new smartphones will drive sales in the years ahead.

U.S. sanctions Turkish officials over pastor’s detention
Speaking to reporters on Wednesday, Ms Sanders said: "We've seen no evidence that Pastor Brunson has done anything wrong".

Samsung itself refrained from forecasting chip market conditions next year, but analysts think rising OLED sales could rescue the company's earnings.

Competition on the market is fierce at the moment and one of the biggest rivals of the Samsung Galaxy Note 9 is expected to be Huawei's Note 10, released under its Honor brand. As such, the company say it "will be offering the Note 9 at reasonable prices in order to maximize sales".

The Galaxy S10 is expected to have an ultrasonic in-display fingerprint scanner, and today's Korean report claims that the Galaxy A from next year won't lag behind. These seem to be in line with other Note 9 price leaks, for Europe and Korea. The device sports 18.5:9 screen providing almost 15% more display area without increasing the overall size of the handset, the company said.

The mobile business booked a 34 percent fall to 2.7 trillion won in quarterly operating profit, its biggest decline since the Galaxy S7 was its flagship model early previous year.

In mobile, demand for high-density storage for new smartphones and high-end models is likely to remain robust. The sector generated a mere 2.67 trillion won in operating profit, tumbling 34.2 percent on year.

Samsung shares were down 0.5 percent in early trading, compared with 0.2 percent drop in the broader market .KS11 .

Latest News