The quarterly earnings of Samsung Electronics are in effect and, as always, are in line with the guidance, which means that the company has achieved a record profit. Samsung earned an operating profit of 14.87 trillion won with sales of 58.4 trillion won; revenues fell 4 percent year-on-year.
According to Samsung, the drop in revenue can be reduced to "softer sales of smartphones and display panels." The most important phone of the year, the Galaxy S9, continued the sale at the end of the previous quarter, but Samsung describes its performance as "slow". Earlier this month analysts predicted it would be the best-selling Galaxy S3 flagship phone since the Galaxy S3 in 2012.
Samsung's display business also had a rough quarter, with "weak demand" for flexible OLED panels as see products like the iPhone X, and LCD shipments fall in both price and quantity. The company expects OLED demand to increase in the second half of the year, and Apple's plan to launch two new iPhone OLED models is likely to help with that.
The bright spots include the strong sales of premium models of the television division thanks to the World Cup, while the main profit engine of Samsung is still its semiconductor division; The demand for NAND flash memory and DRAM chips will not disappear in the short term. Samsung also says that its image sensor business is growing because Chinese companies use the chips in dual-camera smartphones.