Samsung reports a very high profit for Q3 2018

Angelica Greene
October 7, 2018

While the official numbers are still be tallied, Samsung expects to report an operating profit of 17.5 trillion Korean won (around $15.5 billion) from 65 trillion won (~$57.5 billion) in sales revenue. These sales have generated KRW 17.4-17.6 trillion ($15.5 billion) operating profit.

South Korea's Samsung Electronics estimates operating profits grew by almost 18% in its recent third quarter, compared with the same period a year ago, and that sales were up almost 5%. Articles appear on euronews.com for a limited time.

The operating profit in the third quarter would, therefore, increase of 20.4% compared to the same period a year earlier.

Koh added that Samsung was close to concluding the development of a foldable smartphone and would be ready to unveil it this year.

We'll have to wait until the fully fledged report for Q3 2018 gets released by Samsung in coming days to find out if the chip division is indeed performing so strongly.

The operating profit of the memory business is estimated to have increased by 36 percent to 13 trillion won, which would be an all-time record. It was up 11.2 percent from the previous quarter. Samsung Electronics launched the Galaxy Note 9 in August, but intensifying competition in the global market, especially by Chinese rivals, weighed down on the South Korean tech giant.

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Samsung Electronics once again set quarterly records for profit and revenue thanks to high demand for the semiconductor chips needed to propel today's key technologies.

The higher margins for flexible screens Samsung is supplying for the new range of iPhones helped boost earnings, Kim said.

Chips represent close to 80% of the operating profit for Samsung and the company has been the benefactor of a surge by data centers for cloud computing that spurred on spikes in DRAM chip prices.

LG Electronics is expected to post an overall profit of 3 trillion won for 2018.

Shares in Samsung rose 0.2 percent on Friday afternoon, while the broader market fell slightly.

Other reports by GizPress

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