Samsung forecasts slowing profit growth for Q2, missing analyst estimates

Kelley Robertson
July 6, 2018

Samsung will announce the long-rumored Galaxy X foldable smartphone ahead of the highly anticipated Galaxy S10, according to prolific leaker Ice Universe.

South Korean telecom giant Samsung Electronics on Friday flagged a 5.2 percent rise in second quarter operating profit from a year earlier, missing analyst estimates.

Moreover, the numbers are significantly worse than the first quarter, when Samsung reported 15.64 trillion won operating profit off 60.56 trillion won sales.

Still, CES is another six months away, so there's even more time for things to change - especially if Samsung has issues manufacturing the Galaxy X.

Originally we'd heard that the Galaxy S10 would be arriving earlier than the S9 did this year, with many expecting it to be unveiled at CES at the start of January.

Samsung revealed in a press release that its consolidated sales for the second quarter were around 58 trillion won or U.S.$52 billion.

Samsung's 10th anniversary smartphone series is also thought to include a new entry-level model, so far unnamed and simply referred to here as Beyond 0.

Weak LCD display prices are also blamed for the disappointing results, they said.

The report suggests that the Galaxy X will pack a large battery setup.

The lack of design change coupled with incremental upgrades such as a specs bump, a minor camera upgrade along with the variable aperture mode was not sufficient to turn the tides in the company's favor. The approach seems to resemble that of a flip phone whether the display unfolds vertically from the lower half bearing the keyboard.

Samsung hopes its foldable phone would improve its profit.

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