Weak Phone Demand Catches Up With Samsung as Profit Falls Short
- Sluggish smartphone sales weigh on world’s biggest chipmaker
- OLED supplies to Apple struggle while China catches up in LCDs
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Even as most global smartphone makers felt the impact of slowing smartphone sales months ago, Samsung Electronics Co. managed to weather the downturn. Not any more.
The maker of Galaxy phones reported that operating income rose to 14.8 trillion won ($13.2 billion) in the three months ended June, short of the 15.3 trillion-won average of analysts’ estimates, according to preliminary results released Friday.