Samsung Electronics misses forecast on lower phone sales
02 August, 2018, 22:04 | Author: Bennie Parsons
Despite having an Unpacked event scheduled for 9 August, Samsung has chose to suddenly announce the new Galaxy Tab S4tablet online. Analysts pointed to increased competition among Android manufacturers for the slowing growth, with the firm's flagship Galaxy S9 device missing sales targets.
The consolidated net profit was 11.04 trillion won ($9.85 billion).
Revenue in Samsung's mobile division declined 22 percent in the quarter to 22.67 trillion won ($20.2 billion).
Samsung came out with a rosy outlook on the product sector in the second half, citing anticipation of continuing demand regarding server expansion and the release of new smartphones that are to use its chips.
The South Korean tech giant said that its April-June net income stood at 10.98 trillion won ($9.8 billion), up 2 per cent from 10.80 trillion won a year earlier.
The disappointment over the second quarter earnings was reflected in mid-morning trade, with Samsung Electronics shares down 0.7 percent.
Looking ahead, Samsung expects sustained strength in the memory market and growing demand for flexible OLED panels to drive earnings higher in the second half.
While Samsung's profit growth may have slowed, the company's chip sales have been stellar. People are holding on to their high-end smartphones for longer periods of time between upgrades, Lee said, meaning fewer people are rushing out to buy flashy new models each year.
"The market for the premium smartphones decreased, and the market also resisted against the increase in prices", Samsung said, claiming it failed to enjoy immediate effects of various financial programs to promote the sales of its products. Also, Samsung plans to strengthen price competitiveness and adopt advanced technology in the mass models.
Samsung then said it is preparing the release of micro LED TVs customized for businesses and households, respectively.
Adding to its troubles, its vice-chairman Lee Jae-yong, scion of Samsung's founding family, was jailed past year for his part in the sprawling corruption scandal that brought down former president Park Geun-hye.
It brought the total spent in the first half to 16.6 trillion won (14.8 billion US dollars).
Samsung's fortunes in the mobile market are vital as mobile accounts for about 40 percent of its revenue. The second-quarter report was announced before the stock market's opening Tuesday.
Some other news organisations have described the melon-headed whale and rough-toothed dolphin hybrid as a new species. Navy hired marine researchers from the Cascadia Research Collective to study the native animals in these seas.
Giuliani said he and Jay Sekulow, another Trump lawyer, had told the president: "This would be a very bad thing to do now". Some documents are necessary to show Manafort's connections with those consultants, prosecutors say.
Mr Wullschleger said his image of the red moon above Brisbane City was taken about 20 minutes after the total eclipse began. You may have already noticed Mars after dark in recent weeks, looking like a bright star wearing a lot of rouge.
The group said it still plans to focus its resources on helping Republican senate candidates in Tennessee, Florida and Wisconsin. Charles Koch, the chairman and CEO of the industrial conglomerate Koch Industries, oversees the network of about 700 donors.
She noted, in addition, that "collusion" with the Russians could be a type of criminal conspiracy - which certainly is a crime. Legal experts say Giuliani and Trump have a point: there is no federal law or statue making campaign collusion a crime.
Earlier this week, the Israeli military shot down a Syrian fighter jet that it said had breached Israeli airspace. The attacks took place in and around the government-held city of Sweida, state media and monitors reported .
Down the hall observers from half-a-dozen foreign monitoring teams gave their verdict on Zimbabwe's national election. Protesters surrounded vehicles belonging to the observer missions as they passed through downtown Harare.
And despite the fact that the polar bear injured the guard, Twitter is furious that a threatened species was killed . He explained that usually, if a wild bear is seen, guards "shoot into the air" to scare the animal away.
Africanews journalist Nyasha Mutizwa is from Zimbabwe and she's has been following up on the polls with our men on the ground. Estimated turnout was about 75% before polls closed on Monday evening after a peaceful day of voting.
The Chicago Cubs are gambling a change of scenery and a pennant race will help Cole Hamels return to form. With the Cubs over the last two seasons, he has an ERA of 3.98 in 11 starts and 10 relief appearances.
Apple is the first $1 trillion company in history
As Bloomberg pointed out , the number of shares outstanding has been falling about 1.3% per quarter as Apple buys back its shares. Amazon's market cap stands at around $877 million, while Alphabet's is $851 million and Microsoft is worth about $822 million.
Tesla CEO Elon Musk's $5 Billion Apology Tour
While Musk flaunted plans to get Tesla's fiscal house in order, he also might end up raising some capital after all. Tesla said its capital expenses would be slightly below $2.5 billion in 2018, less than last year's $3.4 billion.
North Korea said to be working on new missiles
A truck and trailer similar to ones used in the past to move missiles was seen in one satellite photo, said the official. The factory reportedly produced two ICBMs, including the Hwasong-15 - a missile capable of reaching the US East Coast.
International Freedom Flotilla members remain detained by Israel
An activist group affiliated with the boat, the Al-Awda (The Return), said 22 people and a cargo of medical supplies were onboard. Local Palestinian reacted to the arrests by rioting, which were met with standard crowd disbursement methods by Israeli forces.
Trump hails growth as one-offs and consumers boost economy
Ian Shepherdson, an economist at Pantheon Macroeconomics, said following Friday's report , "In one line: Looks great; won't last". Zandi forecast that growth for 2018 will reach 3 percent, which would be the best rate since before the Great Recession.