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Published: Fri, July 06, 2018
Tech | By Dwayne Harmon

Samsung forecasts slowing profit growth for Q2, missing analyst estimates

Samsung forecasts slowing profit growth for Q2, missing analyst estimates

Now that mid-2018 is here and the expected release date is drawing near, new Chinese and Korean rumors concerning the specs of the Galaxy X emerge, presenting truly revolutionary technologies.

Apple is due to reveal a new roster of phones in September this year so it's interesting to see the iPhone 8 pick up now.

The smartphone market has been slowing down in recent quarters. The device might make it to the market in March 2019.

SAMSUNG'S RUN OF RECORD PROFITS looks to be coming to an end and the Galaxy S9 is reportedly to blame. In other words, the Galaxy S9 is a Galaxy S8s if you will.

Samsung's 10th anniversary smartphone series is also thought to include a new entry-level model, so far unnamed and simply referred to here as Beyond 0.

Analysts expect an operating profit of $13.3 billion for the quarter, up 5.7 per cent from a year earlier but less than the record 15.6 trillion won it posted in the March quarter, according to a Thomson Reuters poll.

Revenue likely came in at 58 trillion won ($51 billion), a decrease of almost 5 percent from a year earlier. A follow-up report in May said that Samsung was planning the Galaxy X announcement for next year's Mobile World Congress in February, with the Galaxy S10 to be unveiled a month earlier in January at CES 2019.

Most notably, it's reported that the Gear S4 (the name of which will be changed to Galaxy Watch) will be powered by Wear OS, formally called Android Wear. Apple's iPhone X isn't selling as great as Apple expected, but it's still making a boatload of cash for Apple.

Weak LCD display prices are also blamed for the disappointing results, they said.

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