After weeks of speculation, Samsung finally published its financial report for the second quarter of 2018. The South-Korean manufacturer reached the whopping amount of $52.2 billion in sales, which is its worst result for the past 12 months.
The reason for such a decline in revenue is mostly due to the low sales of the company’s smartphones and display panels. The demand for memory chips was pretty strong in counterpart.
The division responsible for the Galaxy Smartphones – IT & Mobile communications division – saw its sales number decrease 20% from around $26 billion to $21 billion on a yearly basis. What is the excuse for such a result? Well, it could be explained by the intensive competition faced by the Galaxy S9 and S9+ on the high-end segment plus the demise of some low-end smartphones.
However, the South-Korean manufacturer states that it will recover in the next quarter due to the arrival of the Galaxy Note 9 before the end of Q3 2018. Furthermore, the demand for OLED panels in the late part of the year can rock again the Samsung division responsible for the display panels manufacture.
The division with the best result was the Semiconductor Business responsible for the NANDand DRAM memory chips. According to the results, this division achieved its highest mark on sales, representing 37% of total sales and 80% of the total Samsung’s Q2 2018 profit.