Samsung Electronics Co Ltd 005930.KS posted its slowest quarterly profit growth in more than a year on Tuesday as the sluggish global smartphone market weighed on earnings, although the chip business continued to perform well.
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The South Korean tech giant said demand for memory chips, its biggest earnings contributor by far, would remain strong in the second half thanks to the growth of server data centers.More news: Mars zooms in for a close-up tonight … weather permitting
The mobile business booked a 34 percent fall to 2.7 trillion won in quarterly operating profit, its biggest decline since the Galaxy S7 was its flagship model early previous year. "With Galaxy On8, we have emphasized more on the camera, which is one of the most used features by millennials today", said Sandeep Singh Arora Vice President Online Business of Samsung India. Looking ahead to the second half, OLED sales are expected to rebound on recovering demand for flexible displays.
Samsung is rumoured to be developing a phone with a bending display.
In response, Samsung would "seek to expand sales by introducing a new Galaxy Note earlier than usual", it added.
A report from ETnews, a Korean news outlet, indicates that Samsung is planning to include a triple-camera setup in an upcoming smartphone in the Galaxy A series, though there's no indication of when it will be released. Also, Samsung plans to strengthen price competitiveness and adopt advanced technology in the mass models.
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This would mean the handset could go on sale in early 2019.
As we have mentioned above already, Samsung Galaxy J6 comes in two configurations in India.
"Operating profit in the semiconductor sector is likely to hit the largest-ever 13.7 trillion won in the next quarter, due to the high DRAM chip prices and increasing shipments of NAND flash memory products", said Park Yoo-ak, an analyst with Kiwoom Securities.
Samsung shares slid 0.5 percent by 0254 GMT, compared with 0.1 percent drop in the broader market .KS11 .More news: Access to 3D Printable Gun Plans Blocked by Pa. Lawmakers