Slumping Galaxy sales lead to weak Samsung earnings

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Slumping Galaxy sales lead to weak Samsung earnings

South Korean tech giant Samsung's mid-range smartphone, Galaxy J7 Duo, has received a price cut in India. Reports from Engadget and CNET today say that T-Mobile will also be among the US carriers that sell the Galaxy Tab S4, but when contacted for confirmation, Samsung said that it didn't have any additional carrier info to share right now.

Samsung Electronics is suffering slow sales of its Galaxy S9 smartphone and becoming increasingly reliant on sales of memory chips.

The profit growth in the memory chip business began to stabilize this year but it is still the lion's share of Samsung's bottom line.

Samsung's chipmaking unit, which dominates the global market after the firm invested tens of billions of dollars to build and expand factories, provides chips for Samsung devices as well as those manufactured by competitors including Apple.

Overall, the company reported $13.3 billion in profit, up 6 percent from the same time a year ago, on $52.1 billion in revenue.

THE WORLD'S biggest smartphone maker has apparently "spoiled" some of its own forthcoming announcement overnight, as Samsung revealed video and details about two new tablet computers.

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Samsung said it expected "growing demand for flexible OLED panels to drive earnings higher in the second half" of the year. While the new tablet was expected to debut alongside Samsung's next major release, the Galaxy Note 9, the company instead unveiled the Galaxy Tab S4 in a small press gathering in Manhattan.

According to a new report, the Gray / Silver color variant of the Samsung Galaxy Note 9 seems to be canceled.

"Consumers are losing the belief that the next version of a smartphone is actually smarter", Paul Swiercz, a management professor at George Washington University, told Bloomberg News. The latest device from Samsung to get a price cut is Galaxy J6.

It was driven by demand for DRAM chips used in data centers and NAND flash memory for high-capacity storage, said Samsung that focused on value-added products such as 64GB and higher-density server DRAM based on the 1X nanometer technology and 128GB and higher for NAND mobile storage.

Semiconductors generated 11.61 trillion won in operating profit between April and June, posting a 44.6 percent year-on-year growth. Its semiconductor sector's operating profit will reach 13.57 trillion won and mobile division will post 2.6 trillion won.

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