Samsung Electronics felt the chill of a cooling smartphone market, causing its mobile business to record its sharpest profit decline since the first quarter of 2017.
Poor demand for expensive, high-end mobile phones and tough competition from Apple and Chinese players resulted in sluggish sales of its flagship Galaxy S9 and S9+, the Korean manufacturer said.
However, the disappointing figures were bumped up by strong demand for Samsung Electronic’s memory chips and premium TVs.
Its semiconductor unit, which dominates the global market, provides chips for the company’s own devices as well as those of competitors including Apple.
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