Samsung reports Q2 profit slowdown, says Galaxy S9 sales were lower than expected

Samsung reports Q2 profit slowdown, says Galaxy S9 sales were lower than expected

6 years ago
Anonymous $oIHRkISgaL

https://techcrunch.com/2018/07/30/samsung-reports-q2-profit-slowdown-says-galaxy-s9-sales-were-lower-than-expected/

Struggling against competition from Chinese smartphones, Samsung Electronics posted a lackluster second-quarter earnings report with its slowest profit growth in more than a year. On the bright side, the Korean tech giant said its semiconductor business is doing well.

Operating profit rose 5.7% year-over-year to 14.9 trillion won (about $13.3 billion), representing Samsung Electronic’s slowest quarterly profit growth since the first quarter of 2017. Net income was 11 trillion won (about $9.8 billion), almost the same result Samsung posted in the same period a year ago. Sales revenue dropped 4% to 58.5 trillion won (about $52.3 billion).

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