Samsung is not having a great time of it right now, which is perhaps a surprise following almost a year of breaking profit records. This has culminated in the company releasing earnings guidance for Q2 that includes a very notable dip that has been attributed to poor Galaxy S9 sales.
According to Samsung’s report, the company saw a Consolidated Operating Profit of around 14.8 trillion won during Q2 2018, with Consolidated Sales of around 58 trillion won.
That sounds impressive until the figures are compared with the same period last year, with the numbers showing a dip in sales of 0.7%, although it’s important to note that there was also an 11% overall increase in profit.
While it’s clear that none of this is going to cause the sky to fall in for Samsung, it’s notable given the huge success that previous record breaking quarters have seen. As a barometer here, last quarter saw high profit of 15.64 trillion won, and higher revenue at 60.56 trillion won.
So what’s causing the poor(ish) results? According to analysts speaking with Financial Times and the The Wall Street Journal, the drop is thanks to Galaxy S9 sales being lower than what had been expected. In fact, the sales have been so poor that they are the lowest of any Samsung flagship device since the Galaxy S3 that launched way back in 2012.
It’s important to note that Samsung continues to sell an absolute tidal wave of smartphones, but regardless of how you look at it, there is a definite decline being seen here. Quite why that is will be up to Samsung to figure out, but it is fair to say that the competition is fierce right now. It would appear Samsung is starting to feel the heat a little.
(Sources: WSJ, Financial Times)
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