26 April 2018

Africa: Samsung Forecasts Drop in Flagship Model Sales

Johannesburg — SAMSUNG Electronics has posted KRW60,56 trillion (R695,1 billion) in consolidated revenue and KRW15,64 trillion (R179,5 billion) in operating profit for the first quarter of 2018, thanks to Memory Business and increased sales of its flagship mobile products.

Among the flagships is the Galaxy S9, revealed at the Mobile World Congress in Barcelona on February 25.

Total revenue grew approximately 20 percent year-on-year (YoY) to KRW60,6 trillion (R695.5 billion).

Operating profit for the quarter was a record high, posting an increase of KRW5.7 trillion (R65,4 billion). Profitability improved significantly in the quarter thanks to the Semiconductor Business and the early global launch of the Galaxy S9. All in all, the operating margin in the first quarter was 25,8 percent, up 6.2 percentage points . Looking ahead to the second quarter, Samsung expects earnings to decrease QoQ due to a slowdown in sales of its flagship models and increased marketing expenses to address the situation.

Samsung said it would aim to maintain sales momentum of the Galaxy S9 and S9+ by expanding the operation of experiential stores, strengthening the cooperation with partners and reinforcing promotional programs such as trade-ins.

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