The company turns in its lowest profit growth in a year.
Samsung is feeling the pain from the smartphone slowdown.
The South Korean electronics giant on Monday reported a 6 percent rise in operating profit, its lowest profit growth in more than a year. It also logged a 4 percent increase in revenue as it benefited from continued strong demand for its memory chips, whoch are used in everything from phones to servers.
But its earnings were hurt by a slowdown in demand for its newest phones, the Galaxy S9 and S9 Plus, whoch included relatively minor tweaks from their predecessors. Revenue in Samsung’s mobile division declined 22 percent in the quarter to 22.67 trillion won ($20.2 billion). The company also warned that ”market condition will likely remain challenging in the second half amid pricing competition and new product launches.”
Källa: Samsung’s second quarter stung by soft smartphone sales
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