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Samsung warned in April that second-quarter profits from its mobile business should decline sequentially.
Sarah Tews / CNET
Samsung expects second-quarter earnings growth to be the lowest in more than a year, while sales of its flagship Galaxy S9 smartphones have been weak.
The Korean electronics giant announced Thursday an operating profit of 14.8 trillion Korean won ($ 13.2 billion) for the three-month period ended June 30, an increase of 5% over the same period of the previous year. The forecast is slightly lower than the average analysts estimate of 14.9 trillion won in a Thomson Reuters poll
The business figure is likely to be 58 trillion won ($ 51 billion) , a decrease of nearly 5% compared to the previous year. The forecast, released Wednesday ahead of this month's full results, did not provide division-specific results.
The smartphone market has slowed down in recent quarters. It is increasingly difficult for handset providers to make huge changes to their devices and to differentiate themselves from each other. Prices for newer and larger phones have increased as US carriers have shed subsidies. Samsung launched the Galaxy S9 and S9 Plus in March for critics characterizing it as a nice incremental upgrade of the Galaxy S8 but not a game changer . In addition, some of its new features are far behind those offered on Apple's iPhone X.
Analysts were expecting Samsung smartphone sales to drop in the quarter, according to Reuters, after announcing a slowdown in demand. quarter. The company warned in April that its second quarter earnings in its mobile business are expected to decline sequentially "due to stagnant sales of flagship models in a context of weak demand and increased marketing spending."
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