Samsung's second quarter stung by soft smartphone sales
https://www.cnet.com/news/samsungs-second-quarter-stung-by-soft-smartphone-sales/
The South Korean electronics giant on Monday reported a 6 percent rise in operating profit, its lowest profit growth in more than a year. It also logged a 4 percent increase in revenue as it benefited from continued strong demand for its memory chips, which are used in everything from
phones
to servers.
> But its earnings were hurt by a slowdown in demand for its newest phones, the Galaxy S9 and S9 Plus, which included relatively minor tweaks from their predecessors. Revenue in Samsung's mobile division declined 22 percent in the quarter to 22.67 trillion won ($20.2 billion). The company also warned that "market condition will likely remain challenging in the second half amid pricing competition and new product launches."
