Samsung expects second-quarter profits to miss analysts estimates

Image Source ITHome

Image Source ITHome

Of course we have the next Samsung flagship, the Note 9, being announced in NY next week so at the moment all eyes should be on that - the next models after the Note 9 are still a long way away so it is a lot of pure speculation at this point.

The Korean electronics giant said Thursday that it expects to record an operating profit of 14.8 trillion Korean won ($13.2 billion) for the three-month period ended June 30, an increase of 5 percent over the year-ago-period. This may mean that Samsung isn't too anxious about the low sales of this year's S9 models.

The smartphone market has been slowing down in recent quarters.

Sales are estimated at 58 trillion won, down 4.9 percent from 61 trillion won a year earlier.

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"While chip sales keep rising, smartphones aren't looking good", said Jung Sang-jin, a fund manager at Korea Investment Management. Qualcomm will be the supplier of optical fingerprint sensors used in Samsung's new phones, while Chinese camera module maker O-Film will also supply key components. Samsung won't provide net income or break out divisional performance until it releases final results later this month.

The outlook for chips remains upbeat, with production of Apple's next iPhone likely to support NAND flash memory prices after they fell by up to 15 percent in the second quarter, according to chip price tracker DRAMeXchange. Samsung offers China an alternative to Micron in chips and US companies may look to Samsung for displays if Chinese firms like BOE Technology Group Co. are hit, he said.

There are also fears that a Chinese price-fixing probe into chipmakers including Samsung could limit the upside for DRAM prices, as China is the largest importer of memory products.

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