Samsung Electronics’ quarterly earnings are in, and as ever they’re right in line with guidance, meaning that the company’s run of record profits is at an end. Samsung made an operating profit of 14.87 trillion won on sales of 58.4 trillion won; revenue was down 4 percent year on year.
According to Samsung, the drop in revenue can be put down to “softer sales of smartphones and display panels.” The company’s most important phone of the year, the Galaxy S9, went on sale at the end of the previous quarter, but Samsung describes its performance as “slow.” Earlier this month analysts predicted that it would be the worst-selling Galaxy S flagship phone since 2012’s Galaxy S3.
Samsung’s display business also had a rough quarter, with “weak...
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