The Korean technology giant said Friday it expects its operating profit last quarter dropped by 5.4% compared with the previous three months, to 14.8 trillion won ($13.2 billion)-the first such quarterly fall for nearly two years.
Samsung, whose shares are down nine percent so far this year, is also expected to issue guidance for the April-June quarter on Friday, giving estimates for revenue and operating profit.
"It is going to be tough".
Analysts expect Samsung to sell just 31 million Galaxy S9 units in 2018, which is well below expectations.
Samsung has since acknowledged its plan to expand its smartphone portfolio.
Canadian Brooke Henderson shares Women’s PGA Championship lead
But the malaise continued when Ko bogeyed the 7th and 8th to turn two over for her round and one under for the tournament. The latest win is Park's second victory of this season since she won the Volunteers of America LPGA Texas Classic in May.
A woman tries out augmented reality glasses with the new Samsung Galaxy S9 Plus mobile during the Mobile World Congress in Barcelona, Spain February 27, 2018.
Apple's iPhone 8 topped the global best sellers list for the month of May according to data from Counterpoint's Market Pulse, a tool used for analysing the smartphone market.
Revenue likely came in at 58 trillion won ($51 billion), a decrease of almost 5 percent from a year earlier. The firm did not elaborate and will release detailed earnings in late July. It's probably why Apple wasn't afraid to charge $1,000 for the iPhone X. Early leaks point that the pricing of the device will be around $1000. The company already posted its earnings guide for the second quarter and, as expected, it didn't do well due to the Galaxy S9.
There are also fears that a Chinese price-fixing probe into chipmakers including Samsung could limit the upside for DRAM prices, as China is the largest importer of memory products.