Samsung profits fall due to low sales of the galaxy s9

Shares of Samsung are down more than 2% today after the South Korean company released its earnings forecast for the second quarter of 2018, which will come lower. Disappointing figures suggest that Samsung's flagship phones, including the Galaxy S9 and Galaxy S9 +, are not attracting the public massively as in previous company devices.

Galaxy S9 and S9 + fail to be as successful

Samsung reported that second-quarter sales fell to 58 trillion won (~ $ 52 billion), compared to 60.56 trillion won (~ $ 54.3 billion) in the previous quarter, and 61 trillion won (~ $ 54.6 billion) dollars) in the same quarter last year. The company also experienced a sequential decline in operating profit, which fell from 15.64 trillion won (~ $ 14 billion) to 14.8 trillion won (~ $ 13.3 billion), although this is up from at 14.07 trillion won ($ 12.6 billion).

More competition in markets like China, is one of the causes

The lower sales of the Galaxy S9 smartphones are largely responsible for this decline in Samsung's profits, although we will have to wait for the full financial report from Samsung to see to what extent this will affect the global financial results. Somehow, Samsung faces more competition in any of the segments. With companies like Huawei, Oppo and Xiaomi in China, the world's largest smartphone market is seeing increasing competition.

Although Samsung is not entirely dependent on smartphone sales, it remains an important part of the company's overall business. Samsung is not expected to launch its next flagship phone, the Galaxy S10, until 2019.

HotHardware font