Analysts had been predicting this would be a tough quarter for the device, some believing this would be the weakest launch for years, and it appears the fears have become reality.
With sales of roughly $52.1 billion for the three months, a decline of 4% year-on-year, Samsung at least offered somewhat accurate guidance in a note a couple of weeks ago.
“Second quarter revenue fell due to softer sales of smartphones and display panels, despite robust demand for memory chips,” said Samsung in the earnings statement.
Net profit was little changed from a year earlier due to higher income tax.”
While this is certainly not an ideal situation for the business, at least it is not alone.
The iPhoneX has also been experiencing sluggish sales, as the continued trend of flat innovation and limited differentiation continues.