Samsung Electronics misses forecast on lower phone sales

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They suggested this will allow them to "seek to expand sales" in general. However, with the expected launch of the Galaxy Note 9 as well as its Galaxy Tab model which should be on sale before the end of Q3, Samsung believes that demand for its tablet and smartphones would increase in the second half of the year.

A man walks past a display for Samsung Galaxy S9 smartphones at the company's showroom in Seoul on July 31, 2018.

Samsung has never used a triple-camera lens on the rear side of any smartphone, but that could change with the release of the Galaxy S10 Plus, which is rumoured to feature three lenses at the back and two at the front.

Samsung Electronics Co Ltd posted its slowest quarterly profit growth in more than a year on Tuesday as its Galaxy S9 device missed sales targets and competition heated up, casting doubt on its leadership of the smartphone market.

Chinese competitors are also threatening the South Korean company's display business with products ranging from cheaper televisions to state-of-the-art smartphone screens.

"Since the Galaxy Note 7 fiasco, Samsung has been cautious about adopting new technologies or parts from new suppliers".

However, the disappointing figures were bumped up by strong demand for Samsung Electronic's memory chips and premium TVs. The company raked in $52.1 billion in revenue (58.48 trillion South Korean won) at today's exchange rates, and it made $13.3 billion in operating profit on that haul (14.87 trillion KRW).

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Samsung regained its lead in India's smartphone market in the second quarter thanks to solid sales in its budget segment according to Counterpoint Research.

Next week they will unveil their new Note 9 device and all-eyes will then be on the Galaxy S10 which could be the phone to watch out for in 2019. Starting from next year, the upcoming Galaxy A 2019 series might also feature a triple-lens setup at the back, giving more options to consumers who can not splurge a small fortune on the upcoming Galaxy S10 Plus.

"Second-quarter revenue fell due to softer sales of smartphones and display panels", Samsung said in a statement.

While the mobile business struggles, the chip business remained Samsung's top earner in the second quarter as sales to the cloud-computing and crypto-currency industries propped up DRAM chip prices even as NAND flash memory prices slipped.

Samsung's chip unit posted a record 11.6 trillion won operating profit, up 45 per cent from a year ago.

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

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