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Samsung posts $13.3 billion in operating profit for April – June 2018

July 31, 2018
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Samsung Electronics has reported $13.3 billion in operating profit for the April-June 2018 quarter and posted consolidated net profit of $9.85 billion for the said quarter. The company’s revenue fell by 4 per cent to $52.2 billion on an year-on-year (YoY) basis.

The chip business continued to deliver strong earnings, driven by demand for DRAM chips used in data centres and NAND flash memory for high-capacity storage, amid a softening of NAND prices.

In the display business, the company saw weak demand for flexible OLED panels and a fall in the prices and shipment of LCD panels during the April- June 2018 quarter.

Samsung reported a drop in earnings in its smartphone business, both year-on-year and quarter-on-quarter, primarily due to slow sales of the Galaxy S9 and S9+ premium smartphones.

The network business, however, achieved solid growth led by investments in LTE networks by key global customers.

Further, Samsung led the expansion of the premium TV market and has secured more than 50 per cent market share in the ultra-large screen segment of 75-inches and above.

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