TechSamsung growth slowed by sluggish Galaxy S9 salesSamsung Electronics posted its slowest quarterly profit growth in more than a year on Tuesday as its Galaxy S9 device missed sales targets and competition heated up, casting doubt on its leadership of the smartphone market. The South Korean tech giant gave investors little reason to hope for a quick turnaround in the mobile business, flagging stiffer competition in the second half amid concerns its premium phones lack innovation to drive sales growth. "We are hoping that such adoption will serve as a catalyst in the stagnated mobile market," KyeongTae Lee, vice president of Samsung's mobile business, told analysts. Apple is expected to report a rise in revenue and profit for the third quarter on Tuesday, helped by resilient sales of its iPhones. While the mobile business struggles, the chip business remained Samsung's top earner in the second quarter as sales to the cloud-computing and crypto-currency industries propped up DRAM chip prices even as NAND flash memory prices slipped.
Samsung growth slowed by sluggish Galaxy S9 sales
collected by :Molly Tony
TechSamsung growth slowed by sluggish Galaxy S9 salesSamsung Electronics posted its slowest quarterly profit growth in more than a year on Tuesday as its Galaxy S9 device missed sales targets and competition heated up, casting doubt on its leadership of the smartphone market. The South Korean tech giant gave investors little reason to hope for a quick turnaround in the mobile business, flagging stiffer competition in the second half amid concerns its premium phones lack innovation to drive sales growth. "We are hoping that such adoption will serve as a catalyst in the stagnated mobile market," KyeongTae Lee, vice president of Samsung's mobile business, told analysts. Apple is expected to report a rise in revenue and profit for the third quarter on Tuesday, helped by resilient sales of its iPhones. While the mobile business struggles, the chip business remained Samsung's top earner in the second quarter as sales to the cloud-computing and crypto-currency industries propped up DRAM chip prices even as NAND flash memory prices slipped.
TechSamsung growth slowed by sluggish Galaxy S9 salesSamsung Electronics posted its slowest quarterly profit growth in more than a year on Tuesday as its Galaxy S9 device missed sales targets and competition heated up, casting doubt on its leadership of the smartphone market. The South Korean tech giant gave investors little reason to hope for a quick turnaround in the mobile business, flagging stiffer competition in the second half amid concerns its premium phones lack innovation to drive sales growth. "We are hoping that such adoption will serve as a catalyst in the stagnated mobile market," KyeongTae Lee, vice president of Samsung's mobile business, told analysts. Apple is expected to report a rise in revenue and profit for the third quarter on Tuesday, helped by resilient sales of its iPhones. While the mobile business struggles, the chip business remained Samsung's top earner in the second quarter as sales to the cloud-computing and crypto-currency industries propped up DRAM chip prices even as NAND flash memory prices slipped.
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