Samsung Electronics releases Q2 earnings

Samsung Electronics' has finalized its earnings for the second quarter,... and net profits are down from a year ago.
It was weak earning in its smartphone business that brought it down... even though Samsung posted record sales and operating profit in memory chips.
Kim Ji-yeon reports.
Korean tech giant Samsung Electronics says its second-quarter net profit fell by nearly a tenth of one percent compared to the same period last year,... to around 9-point-9-billion U.S. dollars.
Sales also dropped by more than four-percent to 52-point-2-billion dollars... slightly higher than the provisional estimate released earlier this month.
But it's the first time in five quarters that sales have fallen below the 60-trillion won level, around 53-point-6-billion dollars.
The firm's operating profit, on the other hand, rose by nearly 6-percent on-year to nearly 13-point-3-billion U.S. dollars... the lion's share of that coming from its chip unit.
Meanwhile, sales from its display unit dropped by 26-and-a-half percent on-year in Q2 to record just above five-billion dollars... affected by a drop in demand for flexible OLED products and falling prices for liquid crystal display or L-C-D TV panels.
The earnings results reflect Samsung Electronics' troubles in shoring up its mobile business even as the company enjoys resilient sales of memory chips.
Chinese rivals Huawei Technologies and Oppos are increasing their global market share with their products ranging from cheaper TV displays to smartphone screens.
Despite this, Samsung Electronics paints a rosy forecast for its third quarter earnings, citing a strong market for chips and a supply expansion for its flexible OLED panels.
The company spent 14-point-8-billion dollars during the first half this year in facility investment for chips and displays.
Kim Ji-yeon, Arirang News.