Samsung Electronics announced its financial result for the second quarter of 2018 at KRW 58.48 trillion (US$ 52.05 billion) with a decrease of 4% YoY. The operating profit was KRW 14.87 trillion (US$ 13.23 billion), up by 6% YoY.
The slow sales of the Galaxy S9, weak demands for flexible OLED panels, and slump in LCD panel price were the reasons for the company’s lackluster performance in Q2 even though the semiconductor business has contributed strong earnings.
Nevertheless, Samsung reported that its premium TVs including the QLED models have generated profits for the Consumer Electronic Division thanks to global sport events. With the expanded sales of new innovative TV models including QLED and 8K TVs, Samsung expects the TV business will improve for the second half of 2018.
The premium TV products, including QLED and ultra-large screen TVs have created strong sales. Samsung claimed that its brand accounts for more than 50 percent market share in the ultra-large screen segment of 75-inches and above. Moreover, Samsung has unveiled that its Micro LED display “The Wall” will be released in September 2018, followed by the launch of the household version next year. The company has continued to enlarge the sales of its premium products to intensify its leading position in the premium TV market.
(image: Samsung Electronics)
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