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Samsung counts on foldable smartphones for 2019 profit recharge

Flexible displays that allow for larger screens could give boost to sagging revenue

Samsung Electronics is expected to release foldable smartphones next year with flexible displays supplied by affiliate Samsung Display. (Courtesy of Samsung Display)

SEOUL -- Samsung Electronics is counting on a foldable smartphone expected in 2019 to keep its lead in the shrinking global handset market, analysts said Friday, as the company posted weaker earnings for the last quarter.

Revenue totaled 58 trillion won ($51.8 billion) for the April-June period, down 4.2% from the previous quarter, the South Korean company said in a preliminary earnings announcement. Operating profit fell by 5.4% on the quarter to 14.8 trillion won. By year-on-year, revenue fell by 4.9% while operating profit increased 5.2%.

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