Samsung expects second-quarter profits to miss analysts estimates

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And that's not a surprise, considering that Samsung has copied the iPhone extensively over the years. The device might make it to the market in March 2019.

In January, reports claimed that Samsung was looking to set the Galaxy X launch this December or early 2019. It's possible the mid-sized Galaxy S10 could also come with the "super wide-angle" lens instead of the telephoto lens seen on the Galaxy Note 8 and Galaxy S9.

But guess what, Samsung hasn't been able to sell as many Galaxy S9 phones as it hoped and the company's bottom line reflects that.

Sales are estimated at 58 trillion won, down 4.9 percent from 61 trillion won a year earlier. Currently, a couple of smartphone manufacturers, including Samsung, Huawei and Motorola are working on such smartphones.

The world's biggest maker of memory chips, smartphones and TVs said April-June operating profit would grow 5.2 percent to 14.8 trillion Korean won ($13.2 billion), just missing an average estimate of 14.9 trillion won from 18 analysts polled by Thomson Reuters.

Samsung kept on registering record operating profits, quarter after quarter for seven straight quarters until Q2 2018 finally arrived, putting a stop to the tech juggernaut's progress once and for all.

Samsung is widely rumoured to unveil a foldable smartphone called Galaxy X next year, which is supposed to be the company first foldable phone.

The report suggests that the Galaxy X will pack a large battery setup. That's because many iPhone owners will continue to buy iPhone even if it looks exactly like the phone that launched two or three years ago.

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

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