Samsung Hopeful Foldable Phone Would Recharge Profit After Galaxy S9 Disappointment

Samsung Hopeful Foldable Phone Would Recharge Profit After Galaxy S9 Disappointment

Samsung Hopeful Foldable Phone Would Recharge Profit After Galaxy S9 Disappointment

It is not hard to imagine the reasons why Samsung is expected to experience a disgusting quarter, because according to analysts, the reason for the drop in profit is lackluster Galaxy S9 sales. The company expects to report 14.8 trillion won ($13.2 billion) in profit and 58 trillion won ($51.8 billion) in revenue for the period. The company already posted its earnings guide for the second quarter and, as expected, it didn't do well due to the Galaxy S9.

The smartphone market has been slowing down in recent quarters.

Weak LCD display prices are also blamed for the disappointing results, they said.

It came after Samsung record operating profits for the previous four consecutive quarters.

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The Galaxy S9 series is largely a copy of the Galaxy S8, even though it's not exactly similar, and one of the few Android flagships that don't look like an iPhone X. It has a refined design and much better specs. When CEO Koh Dong-jin spoke about the Galaxy X at a press briefing in Las Vegas earlier this year, he admitted that he was eager to introduce the foldable device.

Samsung has been working on the Galaxy S10 for a while now and thanks to the leaks, we know nearly everything about the device. It is said that the phone would be held shut by magnets and that the display would turn on automatically when the hinge is open.

Flexible smartphones have been in works but we are yet to see a commercially available foldable smartphone in the market. Samsung is also among the major brands that should release a foldable device in 2019, with rumors about the Galaxy X smartphone making the rounds since April 2018.

Samsung hopes its foldable phone would improve its profit.

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