Published: Fri, July 06, 2018
Hi-Tech | By Grace Becker

Samsung 2019 schedule: hold off on that Galaxy Note 9

Samsung 2019 schedule: hold off on that Galaxy Note 9

Samsung will also launch an entry-level Galaxy S smartphone next year.

Samsung shares fell 2 percent as the guidance gave investors insight into how badly the decline in smartphone profitability is hurting the company's bottom line, after it warned in April of an earnings slowdown amid tougher competition.

The Korean electronics giant said Thursday that it expects to record an operating profit of 14.8 trillion Korean won ($13.2 billion) for the three-month period ended June 30, an increase of 5 percent over the year-ago-period. This may mean that Samsung isn't too anxious about the low sales of this year's S9 models.

As we approach the launch date of Samsung's Galaxy Note 9, which according to numerous posts, will take place on August 9, many details have begun to surface about the device.

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Industry sources said sales of smartphones were weak amid mounting competition from rivals as marketing costs for new mobile products also increased, undercutting the sector's profitability. It will disclose detailed results in late July.

The forecast came at the low end of market consensus, which averaged at 15.3 trillion won.

Investors are growing increasingly concerned however about the prospect of an all-out trade war between China and the United States, and how this could impact major exporters like South Korea's tech champions.

Furthermore, the report asserts that the Samsung SDI is developing a foldable phone with V-shaped battery.

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