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Samsung has reported a drop in profits for the first time in four quarters - TechSource International - Leaders in Technology News

Samsung has reported a drop in profits for the first time in four quarters

The Galaxy S9 series performed poorly.
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Samsung has reported a drop in profits for the first time in four quarters

Samsung has reported a drop in profits for the first time in four quarters

After a good run of continuous profits for every quarter in 2017, Samsung’s run has finally come to an end. It seems the Galaxy S9 and S9 Plus performed below expectations, leading the company to report 14.8 trillion won ($13.2 billion) in operating profits against revenues of 58 trillion won ($51.8 billion) in Q2 revenue.

After a good run of continuous profits for every quarter in 2017, Samsung’s run has finally come to an end.

After a good run of continuous profits for every quarter in 2017, Samsung’s run has finally come to an end.

While that still means profit for Samsung, there has been a 0.7 percent drop in the company’s numbers. Though year-on-year, Samsung remains at a 11 percent increase in profit. The company had reported 15.64 trillion won in profit from 60.56 trillion won, which is its strongest result ever.

According to reports, the Galaxy S9 series hasn’t performed very well, which hurt Samsung’s bottom line in the second quarter. The company apparently sold the lowest number of flagships with this one, since the Galaxy S3 years ago. In contrast, the Galaxy S7 was Samsung’s best flagship till date, in terms of sales, and the company sold 50 million units of the smartphone last year.

On the other hand, Samsung is also preparing to launch the Galaxy Note 9 in August this year. The phone should have the curved screen and will likely come with an S-Pen that supports Bluetooth this time.