Samsung has revealed the 2nd quarter report of 2018. According to the Samsung Q2 2018 Earnings, the company’s profit slows down due to unimpressive Galaxy S9 sales. Samsung made an operating profit of 14.87 trillion won ($13.3 billion) on sales of 58.4 trillion won ($52.1 billion); revenue was down 4 percent year on year.
Samsung Q2 2018 Earnings shows a decline in Profit
Тhe IT & Mobile Communications division, responsible for the Galaxy smartphones saw its sales fall 20% from KRW30 trillion to KRW24 trillion on a yearly basis. The decline in this quarter is due to the unimpressive sale of Galaxy S9. However, Samsung forecasts demand for smartphones and tablets is about to increase in H2, boosted by the arrival of the Galaxy Note9 before the end of Q3.
On the other hand, Samsung has shown huge revenue in the semiconductor business. The division responsible for the NAND and DRAM memory chips reached highest ever sales and revenue, amassing over 37% of the overall sales and nearly 80% of the total profit for the quarter.
Let’s see the launch of Note 9 will improve the revenue growth of the company or not.
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