Samsung's Q2 2018 earnings confirm slow sales of the Galaxy S9
Mobile sales are expected to remain challenging.
Samsung just released its earnings report for the second quarter of the year, and in regards to its mobile sales, things are less than ideal.
Although no exact numbers were given, Samsung says that its IT & Mobile Communications division saw a drop in sales for both year-to-year and quarter-on-quarter performance due to the Galaxy S9 seeing "slow sales." Despite that, the company's network business "achieved solid growth" thanks to Samsung's investments in LTE technologies.
Looking ahead, things might remain bleak for Samsung phones for a while. Per Samsung's report:
The mobile market condition will likely remain challenging in the second half amid pricing competition and new product launches.
To help combat this, Samsung still has faith in the upcoming Galaxy Note 9 and other mid-to-low-range handsets that'll be released this year.
As for overall sales, Q2 2018 (which ended on June 30) saw total quarterly revenue of KRW 58.48 trillion which is 4% less than what was reported in Q2 2017. On the flip side, quarterly operating profit saw a 6% increase at KRW 14.87 trillion.
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