Samsung profit shrinks due to Galaxy S9 sales in Q2 2018

Galaxy A

Samsung is also hoping to turnaround its mobile communications business with new models coming later this year, starting with the Galaxy Note9 phablet, set to be unveiled on August 9.

Samsung profits have slipped as the South Korean electronic giants faced stiff competition from Chinese smartphone makers. During the second quarter, its semiconductor business generated 11.61 trillion won ($10.39 billion) in operating profit, almost 80 per cent of the entire operating income.

The supplier of components for Apple Inc. and its biggest smartphone rival said that its operating profit from the mobile handset business posted its steepest decline rate since the 2017 first quarter.

"The year's second half is generally a peak season so smartphone and tablet demand is expected to go up", Samsung said.

Demand for smartphones and tablets is forecast to increase in the second half as the market enters a period of strong seasonality, but competition is seen intensifying as new smartphone models are released. The company is expected to reveal the price of the tablet at its Unpacked event on August 9 in New York City, alongside the Galaxy Note 9 and also a Galaxy Watch.

View our interactive dashboard analysis, which outlines our expectations for Samsung in 2018.

Cubs make the Cole Hamels deal official
Hamels is 1-3 in his last five starts, allowing 25 earned runs in 22 innings and raising his ERA from 3.41 to a career-high 4.72. Darvish and Chatwood were the centerpieces of the Cubs' offseason, as the two free agent signees cost a total of $164 million.

The company said the new Note smartphone, which has often been the most expensive phone model from Samsung, will be sold for "a reasonable price" this time.

Data released by market tracker Counterpoint Research in July showed Samsung's latest Galaxy 9 Plus premium handset had been overtaken by Apple's iPhone 8 as the world's top-selling smartphone.

In terms of specs, the Galaxy Tab S4 runs Android 8.1 and features a 10.5-inch Super AMOLED display, 13MP and 8MP cameras, a Qualcomm Snapdragon 835 octa-core processor, and a 7,300mAh battery that Samsung says offers up to 16 hours of video playback.

It also sounds like the company plans to lower the prices of its flagship devices - in Lee's words, "strengthen price competitiveness" and "aggressively respond to the market condition" while improving their underlying technology. The company said the business micro LED TVs will be mass produced starting in October, with those for households reaching the market in 2019.

Adding to its troubles, its vice-chairman Lee Jae-yong, scion of the Samsung group's founding family, was jailed a year ago for his part in the sprawling corruption scandal that brought down former president Park Geun-hye.

For the first half of 2018, Samsung invested 13.3 trillion won in chips and 1.9 trillion won in displays, rolling out a combined 16.6 trillion won in facilities investment. The sector generated a mere 2.67 trillion won in operating profit, tumbling 34.2 percent on year.

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