After Galaxy J6, Now Samsung Rebrands Galaxy J8 as Galaxy On8

After Galaxy J6, Now Samsung Rebrands Galaxy J8 as Galaxy On8

Samsung, the world's largest maker of memory chips, smartphones and display panels, reported explosive profit growth previous year, driven by an unprecedented boom in memory chip business.

The world's biggest chip and smartphone maker said operating profit rose 5.7 percent to 14.9 trillion won ($13.3 billion) in the second quarter, slightly ahead of its 14.8 trillion won estimate.

Samsung's semiconductor business achieved strong results despite weak seasonality, posting 21.99 trillion won in sales and 11.61 trillion won in operating profit for the quarter.

Samsung Display, the display manufacturing unit of Samsung, is also working on unbreakable OLED panels.

Samsung reported consolidated revenues of KRW58.48 trillion for the second quarter of 2018, down 3.4% sequentially and about 4% on year.

Samsung came out with a rosy outlook on the product sector in the second half, citing anticipation of continuing demand regarding server expansion and the release of new smartphones that are to use its chips.


According to analysts, the S9 ended up selling up to 9.5 million units, far below the initial projection of 15 million. While the Galaxy S10 is expected to feature an ultrasonic in-display fingerprint sensor, Samsung may introduce a cheaper optical scanner for its Galaxy A phones.

Samsung has been struggling with sales of its Galaxy S9 and Galaxy S9 Plus (review) lately, but that is not the only business the Korean manufacturer has been involved in. It will also debut a few weeks earlier than usual - a NY launch event is planned for August 9 - which Robert Yi, executive vice president for investor relations, said was part of a strategy to "address rising competition". The competition is now having effect on the Samsung's earnings of Q2 2018. That work has fueled rumors of a foldable smartphone from Samsung for years.

The Apple Inc components supplier and smartphone rival said operating profit from the mobile business sank 34 percent from a year ago, and warned of stiffer competition in the second half due to the release of new models. The device has been outfitted with a 6.95-inch AMOLED screen, larger than the Note 9's 6.3-inch display and the iPhone X's 6.5-inch display. Behind the achievement is the company's past investments, as well as a super cycle in the chip industry that drove profits across the sector. ETNews says that this is less than Samsung had planned to sell the phone for.

Speaking in today's report Samsung said: "Looking to the future, the Company will continue to reinforce product competitiveness based on hardware leadership, by adopting cutting-edge technology and new form factors and gaining leadership in 5G".

The company spent 8 trillion won (7.2 billion US dollars) in capital expenditure in the second quarter, including 6.1 trillion won (5.5 billion USA dollars) for the chip business and 1.1 trillion won (984 million USA dollars) for the display panel division.

Samsung shares decreased 0.3 percent, compared with the flat broader market.

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