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Samsung's Galaxy S9 couldn't keep profit growth on pace in Q2
Samsung's projected operating profit for April to June of 2018 is around $700 million more than its profit from the same period last year. At $13.2 billion, though, it's still going to be much smaller than the $14 and the $14.4 billion profit it posted in the last quarter of 2017 and the first quarter of 2018, respectively. Samsung's earnings guidance didn't reveal why it wasn't able to beat its own numbers, but according to Bloomberg, one of the reasons is the weaker-than-expected sales of the Galaxy S9.
Samsung vice chairman quits amid leadership 'crisis'
Based on the earnings guidance Samsung has released for the third quarter of 2017, the Korean conglomerate is set to make a new record. It puts its operating profit for July to September at around $12.8 billion, almost thrice last year's $4.6 billion. Despite the possibility of having the best annual earnings ever, not everything's A-OK for the chaebol. Samsung Vice Chairman Oh-Hyun Kwon has decided to step down and leave his positions as vice chairman, board chairman and member, as well as CEO of Samsung display. He said the company is "confronted with unprecedented crisis inside out" and needs "a new spirit and young leadership to better respond to challenges..."
Samsung expects to post record operating profit for Q1 2017
Samsung expects to post stellar earnings for the first quarter of 2017 despite its head honcho's scandal in Korea and the lack of a new flagship phone for the period. The company believes its consolidated operating profit will reach approximately 9.9 trillion Korean won ($8.75 billion) for January to March this year. That's significantly larger than its 6.68 trillion won ($5.9 billion) profit for the same period last year and bigger still than its 9.2 trillion won ($7.8 billion) profit for the fourth quarter of 2016.
