Samsung says Galaxy Note 9 will be 'reasonably' priced


Apple is scheduled to report a rise in revenue and profit for the third quarter on Tuesday, supported by resilient sales of its iPhones.

Samsung's second-quarter earnings report reveals its operating profit fell nearly 5 percent, to 14.9 trillion won ($13.3 billion), with revenue down 3 percent, to 58.5 trillion won.

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

After reporting record profit for seven quarters, Samsung's flawless run has come to an end as it has reported a decline in profit for the second quarter. Samsung said the drop in revenue was thanks to "softer sales of smartphones and display panels", while demand for its memory products helped soften the blow to its operating profits.

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 only solace came from a record operating profit in the semiconductor business of W11.6 trillion.

The disappointment was greater in Samsung's information technology and communications business, which includes its smartphones.

Samsung shares slid 0.3 percent by 0620 GMT, compared with the flat broader market .KS11 .

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Sales of its first-half flagship Galaxy S9 and S9+ models were slow, the company said.

The world's biggest maker of memory chips, Samsung has weathered a series of setbacks, including an embarrassing global recall of its Galaxy Note 7 smartphone due to exploding batteries in 2016.

The Galaxy Tab A 10.5 has an efficient amount of RAM at 3GB, and while there is only 32GB of internal storage, at least it can be expanded up to 400GB with a microSD card.

In the near-term, Samsung said competition would intensify in the second half as new smartphone models were released, prompting it to introduce a new Galaxy Note earlier than usual. The display business also suffered from falling shipments and prices for its LCD panels.

Analysts were optimistic about Samsung's future prospects too.

The industry data showed that weaker smartphone sales from Samsung's side did not slow down the profitability part of the company's businesses. It can also be used to navigate, translate and organize notes through Samsung Notes, and even send personalized texts through Samsung Live Message.

Although this latest S9 news isn't positive for Samsung the firm is working hard to bring new innovations to customers.

Speaking in today's report Samsung said: "Looking to the future, the Company will continue to reinforce product competitiveness based on hardware leadership, by adopting cutting-edge technology and new form factors and gaining leadership in 5G". "I am expecting the company to pick up ground with the Note9 and the S10".