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Published: Thu, August 02, 2018
Tech | By Dwayne Harmon

Samsung Allegedly Canceled Gray / Silver Galaxy Note 9

Samsung Allegedly Canceled Gray / Silver Galaxy Note 9

Amid the stagnant high-end smartphone market, the IT & Mobile Communications Division reported a drop in earnings, both year-on-year and quarter-on-quarter, over slow sales of the Galaxy S9.

On the other hand, Samsung's handset business reported a big fall in quarterly profit from a year ago.

"Samsung was already lost to China in price competition and is getting threatened by Chinese models in designs and hardware strength", Park Jung-hoon, a fund manager at HDC Asset Management that owns Samsung shares was quoted as saying. This is the first tablet device to support Samsung DeX which can be triggered by putting the tablet in the Book Cover Keyboard or via a Quick Panel toggle.

Samsung's difficulties in the mobile market, which accounts for about 40 percent of its revenue, have been exacerbated by its recent lack of innovation to drive sales of its premium Galaxy series gadgets. Samsung says the tablet will come to Sprint and US Cellular later in the third quarter of this year. Its bendable screen technology recently passed key United States safety testing, a crucial step in coming to market.

On the basis of this trend and its unrivalled dominance in several businesses, industry analysts expect Samsung to have a lead on Apple in terms of margin for the entire year.

Samsung's just-announced Galaxy Tab S4 is the company's flagship tablet for 2018, and while that might be exciting news for some, the not-exactly-cheap price tag of $649 (£599, around AU$880) will likely put just as many potential buyers off.

"The company will respond through the early introduction of the Galaxy Note and competitive mid- and low-end models with new features", it added.

Sales fell 4 percent to 58.48 trillion won, while operating income advanced 6 percent to 14.87 trillion won, in line with its earnings preview earlier last month.

Smartphones weren't the only area reporting weaker-than-expected sales for Samsung.

"Second-quarter revenue fell due to softer sales of smartphones and display panels", Samsung said in a statement. During the second quarter, its semiconductor business generated 11.61 trillion won ($10.39 billion) in operating profit, almost 80 per cent of the entire operating income.

Samsung Electronics (OTC:SSNLF) published its Q2 2018 results on Tuesday, reporting a mixed set of numbers as headwinds in its smartphone business offset a robust performance by its memory operations.

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