Samsung Electronics recorded Q2 net profit of KRW11.04 trillion ($9.9 billion), down slightly from KRW11.05 trillion ($9.9 billion) in the same period last year, on turnover which fell 4% to KRW58.48 trillion ($52.3 billion) from KRW61.0 trillion ($54.6 billion). For the first half, there were profits of KRW22.73 trillion ($20.3 billion) on sales of KRW119.04 trillion ($106.5 billion). The company attributed the drop in Q2 revenue to lower smartphone and display panel sales.
The display panel business saw Q2 turnover decrease to KRW5.67 trillion ($5.1 billion) from KRW7.71 trillion ($6.9 billion) a year ago, as demand for flexible OLED panels weakened. The mobile sector saw a reduction in revenue from KRW30.01 trillion ($26.9 billion) to KRW24.0 trillion ($21.5 billion), citing slow sales of the Galaxy S9. The consumer electronics division, however, benefited from the FIFA World Cup with increased sales of premium TVs.
