The main culprit for Samsung's lackluster results was handset sales.
Despite some bumps in the road, the company's outlook remains sunny for the second half of 2018.
According to analysts, the S9 ended up selling up to 9.5 million units, far below the initial projection of 15 million. It can also be used to navigate, translate and organize notes through Samsung Notes, and even send personalized texts through Samsung Live Message. While Samsung's position as the world's largest smartphone maker is still secure, lower-priced models are tempting some users away from the brand. Samsung is set to launch a new Note next month. The Galaxy On8 takes on the Xiaomi Redmi Note 5 Pro, Honor 9N and Asus Zenfone Max Pro M1 smartphones in India.
During the second quarter, Samsung's semiconductor business generated 11.61 trillion won in operating profit, almost 80 percent of the entire operating income. In addition a sooner-than-expected launch date for its next generation Galaxy Note model, Samsung will work towards more competitive pricing and quicker adoption of future technology overall, throughout all of its lines of product.
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Samsung reported consolidated revenues of KRW58.48 trillion for the second quarter of 2018, down 3.4% sequentially and about 4% on year.
In addition to poor sales of the Galaxy S9, the company's profit was also hit by weak demand for flexible OLED panels and reduction in price and quantity of LCD panels. The largest smartphone brand in the world selling the same smartphones with a different name at a different price for the same consumers. The device will be available in Blue and Black color options and is sold through Flipkart and Samsung Online Shop starting August 6th. Behind the achievement is the company's past investments, as well as a super cycle in the chip industry that drove profits across the sector.
"Looking forward, more affordable premium devices might be the solution the market needs in the second half of the year to drive shipments back in a positive direction", IDC research manager Anthony Scarsella said at the time. Inside, Samsung has opted to go for a chipset from Qualcomm rather than something in their Exynos collection. By segment, the chip business accounted for 6.1 trillion won, followed by the display division with 1.1 trillion won. Revenue was also down 20 percent year on year to 24 trillion won.
Additionally, Samsung's OLED manufacturing business has an unrivalled market share, and its flash memory and DRAM business are also bringing in record profits for the manufacturer.