Samsung has posted its financial results for the second quarter of 2018. Following two glowingquarters, Q2 2018 was relatively cool, with sales and profits falling compared to both last quarter and Q2 2017. The Korean electronics manufacturer said that "softer sales" of both the Galaxy S9 line and display panels were largely to blame.
Slower sales don't necessarily mean slow sales, though. In the quarter ending July 30, Samsung posted KRW 58.48 trillion ($52.26 billion) in revenue, with KRW 14.87 trillion ($13.29 billion) in operating profit — both lower than last quarter, but the company isn't exactly in trouble. Its semiconductor business continues to do resoundingly well, with continued increases in sales and profits. RAM sales are high, and Samsung expects demand to continue to rise in the second half of its fiscal year.
The company reported weak demand for both LCD display panels as well as its flexible OLED panels, though it expects demand to increase as the year goes on. Demand for the Galaxy S9 and S9+ was also relatively low, in what Samsung describes as "the stagnant high-end smartphone market;" this low demand led to the decision to launch the forthcoming Note9 earlier than usual in the year. Appliance sales were low (apparently people aren't buying air conditioners like they used to), but as predicted last quarter, TV sales were strong, "helped by a major global soccer event."
Samsung expects brisker business as the year goes on, bolstered by Black Friday shopping and new products like "the industry’s first AI-based 8K QLED TV." The company also reaffirmed its commitment to 5G network development.