Samsung Galaxy On8 with dual rear cameras to cost around Rs 18000

Noel Cummings
August 2, 2018

Samsung's chip unit posted a record KRW 11.6 tr (£7.9bn) operating profit in the second quarter, up 45 percent from a year ago.

Samsung has a number of events coming up to launch the watch, the most likely being the Samsung Galaxy Note 9 launch in NY next week on August 9.

It's not all about looks though as the Galaxy Note 9 is expected to feature some upgrades that won't be apparent to the naked eye.

The disappointment was greater in Samsung's information technology and communications business, which includes its smartphones.

The world's biggest chip and smartphone maker said operating profit rose 5.7 percent to 14.9 trillion won ($13.3 billion) in the second quarter, slightly ahead of its 14.8 trillion won estimate.

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Revenue for the April-June period fell 4 per cent to 58.5 trillion won.

The company added however that robust demand for memory chips helped boost the operating profit.

If Samsung didn't have its burgeoning chip business to boost up profits, the results could have been worse. Another reason why Samsung feels the S9 didn't perform as well as expected was due to its high price.

Samsung attributed the record-breaking performance to higher demand for chips for expanding data centers or cloud services and a trend for electronic devices like smartphones with a larger storage capacity.

Looking forward, Samsung expects its profits to edge higher in the second half of 2018, thanks to "sustained strength in the memory market and growing demand for flexible OLED panels". In the company's lengthy earnings statement, it writes: "In response, Samsung will seek to expand sales by introducing a new Galaxy Note earlier than usual".

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As for the short term, Samsung said that competition would be greater during the second six months of 2018, as new models of smartphones are released, prompting it to launch its new Galaxy Note at an earlier time than normal.

The smartphone market is overly saturated.

"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. With the 10th model of the Galaxy S series coming up, many analysts think that we may see the company's first attempt at a foldable phone to make the milestone.

The company posted KRW14.87 trillion in quarterly operating profit, up 6 percent. While Samsung's revenue declined by 4% to 58.5 trillion ($52 billion), its net profit remained nearly flat at 11.04 trillion won ($10 billion).

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