Samsung Hopeful Foldable Phone Would Recharge Profit After Galaxy S9 Disappointment

Samsung Galaxy X foldable battery

The South Korean tech giant thinks its foldable phone could help keep its lead in the global handset market.

The Galaxy S10 will finally introduce an in-screen fingerprint sensor in a Samsung phone, at least in two of three versions planned, according to a new report today.

Sales are estimated at 58 trillion won, down 4.9 percent from 61 trillion won a year earlier. On the other hand, its consolidated operating profit was at 14.8 trillion or US$13.2 billion.

The Korean technology giant said Friday it expects its operating profit last quarter dropped by 5.4% compared with the previous three months, to 14.8 trillion won ($13.2 billion)-the first such quarterly fall for nearly two years. The Galaxy X will likely not cannibalize sales for the Galaxy S10, as the foldable smartphone is expected to be a niche device with a price tag that may go as high as around $1,800, almost double the price of the $1,000 iPhone X by rival Apple.

Weak LCD display prices are also blamed for the disappointing results, they said.

Moreover, the numbers are significantly worse than the first quarter, when Samsung reported 15.64 trillion won operating profit off 60.56 trillion won sales. But as early as now, analysts are viewing its second quarter performance as the first decrease in seven quarters.

As The Verge reports, it is believed that this is in part, due to do with sales of the Galaxy S9 waning, after booming in popularity with last year's Galaxy S8. These new batteries will come in large capacities, most likely between 3,000 and 6,000 mAh, and will have a curved flexible design in order to go along with the foldable display of the Galaxy X.

Rumors regarding the Galaxy X have been heating up.

"We are preparing for foldable phones very intensely".

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