Sluggish Galaxy S9 sales hit Samsung's profits

Samsung Galaxy On8 Price in India Revealed Ahead of Reported Launch

Samsung Galaxy On8 Price in India Revealed Ahead of Reported Launch

The consolidated net profit was 11.04 trillion won ($9.85 billion).

Samsung regained its lead in India's smartphone market in the second quarter thanks to solid sales in its budget segment according to Counterpoint Research. And it specifically blamed "slow sales of the Galaxy S9". Both made the mistake of thinking that high-margin high-price phones were the way forward.

Sales of Galaxy S9 and other flagship smartphones declined while it had to spend more marketing expenses to promote phones.

While total sales fell 4.1% year-on-year to 58.48 trillion won, the company's mobile division was particularly hard hit, with revenues plunging 22% in the same period. Samsung, while still the world's largest smartphone maker, saw its shipments down 2.4 percent in the first quarter, IDC reported in May.

You can see the phone in the flesh in some hastily filmed video below, but remember we're going to see all soon with August 9 the date for the official launch in NY so it won't be long until we see the device officially announced by Samsung. The three companies control more than 90 percent of the market for dynamic random access memory, or DRAM, chips.

Although its semiconductor business was a bright spot, achieving record operating profits of 11.6 trillion won, the earnings were lower than expected - with market forecasts averaging 12 trillion won.

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Samsung shares fell less than 1 percent after the results.

Samsung's 10-nanometre-class Low Power, Double Data Rate, 4X (LPDDR4X) DRAM will improve performance and lower power consumption of premium smartphones, it said.

Samsung posted an operating profit of $13.3 billion on revenues of $52 billion for the quarter ending June 30. After a decade of growth, the global phone market is slowing as consumers wait for the next level of innovation such as bendable-screen phones and devices for fifth-generation wireless networks.

That work has fueled rumors of a foldable smartphone from Samsung for years.

The company at the same time is expanding its ability to produce memory chips and smartphones. It's expected to be announced on August 9 at an event in NY.

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