Samsung posts slowest profit growth despite stellar chip sales

Samsung's Galaxy Note 9 event may not be until next week but the company is already announcing new products included its latest tablet the Tab S4

Samsung's Galaxy Note 9 event may not be until next week but the company is already announcing new products included its latest tablet the Tab S4

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

Do keep in mind that while Samsung's operating profit was higher than Apple's, it is because the company has several chip businesses to keep it afloat. The display business also suffered from falling shipments and prices for its LCD panels. That ended six straight quarters of earnings growth. Its phone business reported 2.67 trillion in operating income during the three-month period, compared with 4.06 trillion won a year ago.

Samsung Electronics Co Ltd recorded its slowest quarterly profit growth in over a year on Tuesday as its Galaxy S9 device failed to reach sales targets and competition heated up, throwing doubts on its leadership in the smartphone market. The company also claimed that intensified global competition affected its performance.

The company's first foldable smartphone - now dubbed the Galaxy X - is also tipped to breathe new life.

Lee also mentioned Samsung's "foldable smartphones", which are now under development.

According to some media reports, it is believed that Samsung is preparing to launch a foldable smartphone in the first half of 2019 to mark the 10th anniversary of its Galaxy models. Pre-orders start today on Samsung.com until August 9, 2018. The company launched their first Galaxy Tab tablet back in 2010 and since then it has evolved into multiple series of devices at different price points. Smartphones accounted for 90 percent of its handset sales, it added. Samsung is set to launch a new Note next month.

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In terms of specs, the Galaxy Tab S4 runs Android 8.1 and features a 10.5-inch Super AMOLED display, 13MP and 8MP cameras, a Qualcomm Snapdragon 835 octa-core processor, and a 7,300mAh battery that Samsung says offers up to 16 hours of video playback.

Looking to the second half, the TV market is projected to grow YoY, especially in developed economies. Holger Mueller of Constellation Research Inc. said the company had delivered an excellent quarter considering that its leadership is still in transition, especially when one considers that its previous, stronger quarters were more of a positive surprise. The World Cup's assist was felt even in Samsung's premium television products, such as QLED and ultra-large screen TVs.

Samsung IT and communication has gone down 200% in the last quarter.

Samsung will also reportedly release a 512GB version that will cost 1,353,000 won (around $1,201).

Samsung said it also made a decision to hand out dividends of 354 won per shares, with the combined amount of 2.4 trillion won.

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