Samsung Electric profit growth slows

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Both revenue and operating profit decreased from the previous quarter.

While Samsung's profit growth may have slowed, the company's chip sales have been stellar. Samsung's overall operating profits slid almost 5% sequentially to KRW14.87 trillion in the second quarter.

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. "Therefore, chip prices are expected to remain strong", a Samsung official said on condition of anonymity.

"For DRAM, server demand stayed strong owing to the ongoing shift to higher density and expansion of data center infrastructure".

China's Huawei Technologies [HWT.UL], the world's third-largest smartphone maker, earlier on Tuesday posted the slowest growth in its first-half sales since 2013.

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As for the second half of 2018, Samsung said it expects the sales to increase on the back of rising demand for mobile application processors and image sensors.

Samsung is planning on canceling the production on Samsung Note further on.

Samsung Electronics has unveiled the latest in its flagship 2-in-1 Android tablet line-up, the Galaxy Tab S4, which offers a slew of new options for consumers thanks to it being able to connect with Samsung DeX.

"Second quarter revenue fell due to softer sales of smartphones and display panels", Samsung said in a statement.

The IT and mobile communications division posted 24 trillion won in sales and 2.67 trillion won in operating profit for the quarter. Sales of Galaxy S9 and other flagship smartphones declined, while it had to spend more marketing expenses to promote smartphones. The company also claimed that intensified global competition affected its performance.

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Samsung also announced that it would pay out dividends of 354 won per share for the second quarter on August 20. The phone was launched in 2016 and almost around fifty million units were shipped. That work has fueled rumors of a foldable smartphone from Samsung for years.

The official leak comes a week before Samsung's much hyped NY event, where the company is expected to unveil a new Galaxy Note smartphone and had been tipped to launch tablets, a smartwatch, and potentially its first smart speaker.

There is no doubt that the high-end smartphone market is taking a kicking but Apple is also suffering. Samsung is scheduled to launch a new Note early next month.

The Samsung Galaxy Note9 is expected to come with a 6.32-inch OLED display panel which is relatively larger than last year's Galaxy Note 8.

The company made an operating profit of 14.87trn won ($13.3bn) on sales of 58.4trn won ($52.1bn) and revenue was down 4pc year on year.

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