Samsung's Galaxy S9 is its least popular phone since the Galaxy S3

The Galaxy X phone is rumored to integrate a 7.3-inch display that measures 4.5-inch when folded

The Galaxy X phone is rumored to integrate a 7.3-inch display that measures 4.5-inch when folded

Samsung Electronics is now hoping for its upcoming Galaxy X to improve its profit following the sluggish sales of its Galaxy S9 flagship phone. That's an increase of 0.71 trillion won in profits, but a 3 trillion won drop in sales compared to the same time a year ago, as Samsung missed estimates for the quarter that ended on June 30th. In the past year, they have posted record earnings in every quarter for the past year, and even challenged Intel as the biggest chip maker in the world. 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.

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.

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SAMSUNG'S RUN OF RECORD PROFITS looks to be coming to an end and the Galaxy S9 is reportedly to blame. Earlier reports claimed that it's the other way around and the S10 would be launched earlier than its predecessor. The size, however, is said to reduce to 4.3-inch after the phone has been folded. The device will enter mass production later this year ahead of its unveiling in the first month of 2019. Now that mid-2018 is here and the expected release date is drawing near, new Chinese and Korean rumors concerning the specs of the Galaxy X emerge, presenting truly revolutionary technologies.

Industry sources said sales of smartphones were weak amid mounting competition from rivals as marketing costs for new mobile products also increased, undercutting the sector's profitability. However, it didn't reveal any detail about its anticipated foldable handset. The company has filed for a patent for a smartphone that shows the device's body with flexible display.

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Samsung hopes its foldable phone would improve its profit.

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