Amid disappointing Galaxy S9 sales, Samsung reports lower Q2 results

by bold-lichterman

Samsung expects some lower financial results for the second quarter. The fault in particular with the disappointing sales of the Galaxy S9. A situation that had not happened to the Korean manufacturer for 12 months.

The chaebol said operating profit is expected to be around 14.8 trillion won (11.32 billion euros), an increase of 5.2% year on year. On the other hand, its overall sales would be down 4.9%. The final results will be known at the end of July.

Face competition from Chinese brands

Samsung is thus far from being in difficulty but this slowdown reflects certain challenges to come. The Galaxy S9 did not achieve the expected results. In particular, this one sold less well than the S7. Only 31 million copies would have passed against 50 million for the S7 according to data cited by the The Wall Street Journal.

The company also faces competition from Chinese brands like Xiaomi and Huawei, which offer more affordable devices. On the other hand, its division dedicated to memory chips should record very good results. The Korean must succeed in renewing himself for his segment dedicated to smartphones.