Samsung Electronics Q3 operating profit jumps 20.4 pct to hit record high
07 October, 2018, 16:44 | Author: Camille Rivera
Samsung Electronics Co Ltd said quarterly operating profit likely surged by a fifth to a record high, with its chip unit bolstered by robust demand from data centres and gains in production yields.
The world's largest smartphone and semiconductor maker Friday said it expected an operating profit of 17.5 trillion South Korean won ($15.4 billion) for the quarter, up 20% from 14.53 trillion won a year earlier.
But sharp price slides for some types of semiconductors have brought an end to a two-year super cycle of tight supply and soaring demand, and analysts expect the July-September quarter will mark a peak in earnings for the South Korean tech giant.
It's not the Samsung's smart home appliances, its ever-growing QLED range or 'The Frame' TVs that are set to push its profits to a record high for Q3 of 2018, but the growing popularity of its chipsets.
Samsung withholds net profit and sector-by-sector business performance until it releases its final earnings report, which is expected later this month.
Samsung did not speak about its performance and will not disclose its earnings until late in October.
With its third-quarter operating profit exceeding 700 billion won, however, will likely post an annual profit of 3 trillion won for the first time in 2018.
Nevertheless, analysts have sounded concern about the current lack of innovation in the smartphone industry.
Local analysts estimate Samsung earned around 2.3 trillion won in operating profit from the IT and mobile division, which marks a sharp drop from around 3.3 trillion won posted in the same period past year. It was up 11.2 percent from the prior quarter.
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