Samsung’s Mobile Profit Falls as Consumers Pass on Galaxy S9 Phones

Company acknowledges it might have been too cautious with new technology advances, leading to weak flagship sales

Timothy W. Martin

July 31, 2018 9:44 a.m. ET

SEOUL—Samsung Electronics Co. might have misdialed on the $1,000 smartphone era.

Fewer buyers than expected have shelled out top dollar for Samsung’s new flagship device, the Galaxy S9, whose high-end versions approach the $1,000 mark. The consumer rebuke, plus heavier marketing expenses, caused second-quarter mobile-unit profit to nosedive by one-third from a year earlier.

The...