Samsung Electronics profit growth slows despite stellar chip sales

Samsung upped the aesthetics and features game with the launch of the Galaxy A8 and Galaxy A8 Plus, giving them slimmer bezels, upgraded camera specifications and other improvements.

In the second half of 2018, Samsung expects demand to grow for its flexible OLED panels and continued strong demand for its memory products.

Higher marketing expenses and the disappointing performance of the flagship S9 smartphone, which fell short of its sales target, weighed on its mobile performance, Samsung said.

Samsung India will launch Galaxy On8 in 4GB/64GB variant with a rear dual camera setup this week in India for almost Rs 18,000.

Samsung Electronics posted its slowest quarterly profit growth in more than a year on Tuesday due in part to weak sales of its Galaxy S9 smartphones, and warned of tougher competition ahead for the struggling mobile sector. To offset slowdowns in mobile, the company has touted its growing sales of chips, which it manufacturers for itself and other smartphone makers, including Apple.

"Samsung was already lost to China in price competition and is getting threatened by Chinese models in designs and hardware strength", said Park Jung-hoon, a fund manager at HDC Asset Management that owns Samsung shares.

Public housing smoking ban set to take effect Tuesday
The ban does not apply to e-cigarettes, snuff and chewing tobacco, although there may be restrictions on those in some areas. HUD wants to reduce exposure to unsafe secondhand smoke, and encourage its tenants to drop the carcinogenic habit.

Stay up to date regarding Samsung's upcoming Galaxy Note 9, to be unveiled August 9. Starting from next year, the upcoming Galaxy A 2019 series might also feature a triple-lens setup at the back, giving more options to consumers who can not splurge a small fortune on the upcoming Galaxy S10 Plus.

Overall, the company reported $13.3 billion in profit, up 6 percent from the same time a year ago, on $52.1 billion in revenue. "With Galaxy On8, we have emphasized more on the camera, which is one of the most used features by millennials today", said Sandeep Singh Arora Vice President Online Business of Samsung India.

Samsung is rumoured to be developing a phone with a bending display.

As noted in a Nikkei report, however, Samsung's foldable device might end up ultimately eclipsed when it finally makes it to the market next year. NAND prices might be down, but demand from the cloud computing and cryptocurrency industries kept DRAM prices up.

Operating profit was 14.87 trillion won, up 5.7 percent and in line with the estimate of 14.8 trillion won suggested in a preliminary guidance report released earlier this month.

Samsung shares were down 0.5 percent in early trading, compared with 0.2 percent drop in the broader market (.KS11).

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