Samsung Electronics posts $9.9 billion Q2 net profit, down 0.1%
Samsung Electronics on Tuesday reported a 0.1% dip in its second quarter net profit from a year earlier, blaming slower global sales of premium smartphones that dented demand for its flagship Galaxy device. Net profit for the April to June period came in at 11.04 trillion won ($9.9 billion), slightly lower than the 11.05 trillion won in the same period in 2017, the company said in a regulatory filing. An average of estimates compiled by Bloomberg News had forecast 11.6 trillion won for the period. Operating profit was 14.87 trillion won, up 5.7% and in line with the estimate of 14.8 trillion won suggested in a preliminary guidance report released earlier this month. But total sales fell 4.1% year-on-year to 58.48 trillion won, with the company’s consumer electronics and mobile businesses suffering.