Samsung is scheduled to launch a new Note series early next month.
For the quarter it made a net profit of KRW11.04 tr (£7.5bn), down from KRW 11.05 tr (£7.5bn) a year earlier.
The supplier of components for Apple Inc. and its biggest smartphone rival said that its operating profit from the mobile handset business posted its steepest decline rate since the 2017 first quarter.
Samsung's Memory business posted its strongest ever quarter, with operating profits rising by 44% year-over-year to 11.6 trillion won ($10 billion), driven by continued strength in DRAM demand and pricing.
Samsung also announced that it would pay out dividends of 354 won per share for the second quarter on August 20.
"Looking forward, more affordable premium devices might be the solution the market needs in the second half of the year to drive shipments back in a positive direction", IDC research manager Anthony Scarsella said at the time. With growth in the premium smartphone market stagnating but the competition intensifying, handset makers have increasingly struggled to increase their profit. As it was reported earlier, the Galaxy On8 comes with the Snapdragon 450 chipset and is the third smartphone from Samsung to sport the said SoC. Samsung has also added other features such as Super AMOLED Infinity display with 18.5:9 aspect ratio, Android 8.0 Oreo and a beefy 3500mAh battery.
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Trade contributed 1.06 percentage points GDP growth in the second quarter after being neutral in the January-March period. That was a pickup from the first quarter's revised growth rate of 2.2 per cent, the New York Times reported .
To cope with the situation, Samsung Electronics said it will soon release a new Note smartphone at a "reasonable price", and apply top-notch features on budget models. Still, Samsung has been facing some heat from the competition.
"Samsung's smartphone shipments and revenue declined QoQ due to the slow sales of Galaxy S9 and S9+ as well as the phasing out of older low-end models", the company noted. Also, Samsung plans to strengthen price competitiveness and adopt advanced technology in the mass models. The company said the business micro LED TVs will be mass produced starting in October, with those for households reaching the market in 2019.
Samsung IT and communication has gone down 200% in the last quarter.
It brought the total spent in the first half to 16.6 trillion won (14.8 billion US dollars).
The IT & Mobile Communications (IM) division, which makes smartphones, posted an operating profit of 2.67 trillion won (2.39 billion US dollars) on revenue of 24 trillion won (21.5 billion USA dollars).
Samsung's fortunes in the mobile market are vital as mobile accounts for about 40 percent of its revenue.