Samsung posts a soft second quarter on weak flagship phone sales
It's quarterly financial reporting season, and Samsung Electronics recently posted its second-quarter results. The company raked in $52.1 billion in revenue (58.48 trillion South Korean won) at today's exchange rates, and it made $13.3 billion in operating profit on that haul (14.87 trillion KRW). Revenue was down 4% year-on-year, while operating profit rose 6% year-on-year. Samsung said the drop in revenue was thanks to "softer sales of smartphones and display panels," while demand for its memory products helped soften the blow to its operating profits.
As one of the world's largest (if not the world's largest) semiconductor and electronics manufacturing firms, Samsung has lots of irons in the fire. Although it doesn't break out divisional revenues in fine detail, the company said its semiconductor business unit, responsible for DRAM and NAND flash, enjoyed strong results ...