Samsung on Tuesday announced the results for the second quarter and they are as bad as the company's guidance promised a few weeks ago. Samsung highlighted the slow Galaxy S9 sales as a reason explaining the decline in revenue, with display panels also a factor. Strong demand for memory chips was not enough to compensate for the effect of less than the star's Galaxy S sales.
However, the company explained in the announcement that it plans to launch groundbreaking mobile technology and launch new form factors
Samsung achieved a turnover of 58.4 trillion (52.1 billion) in the period, a decrease of 4% compared to last year, and operating profit of 14.87 trillion (1
The company did not say how many Galaxy S9 devices it sold but acknowledged the fact that sales were slower than in the same period last year and slower than the first quarter of 2018:
In the midst of the stillstanding high-end smartphone market, IT & Mobile Communications Division reported a decline in revenue, both last and quarter of the quarter, over a commendable sale of the Galaxy S9.
Samsung also said that the mobile market will remain challenging in the second half of the year among price competition and new product launches and confirmed that it is launching the new Galaxy Note earlier as an answer to it. Interestingly, Samsung said about the phone that it would get a fair price:
Samsung will try to expand sales by introducing a new Galaxy Note earlier than usual, providing exceptional performance at a reasonable price.
What's More Interesting In the press release, Samsung is saying about the future of its mobile department:
In the future, the company will continue to strengthen product competition based on hardware management by adopting groundbreaking technology and new form factors and gaining leadership in 5G.
This section tells us that the Galaxy S10 will be more exciting than ever – and that it can come with 5G support out of the port. And it seems that Samsung has confirmed that the launch of its first folding smartphone is imminent. That's what "form factor" nods mean. And make no mistake, Samsung talks about the near future, rather than a remote one given to 5G inclusion. 5G networks and smartphones should be about six months from now. Not to mention that Samsung probably wants to turn things as fast as possible and return to new record quarterly earnings.
We've heard about Samsung's folding smartphone for a couple of years, but Samsung kept the delay on launch. Reports in recent weeks suggested that Samsung is now launching the phone in early 2019. However, Tuesday's quarterly results report suggests that Galaxy X or Galaxy F will be launched shortly. And you can thank the boring Galaxy S9 for that.