Home » Tech

Samsungs Q3 operating profit up 20.4 pct to hit record high

07 October, 2018, 15:43 | Author: Tara Roberts
  • Samsung Note 9

The world's largest maker of memory chips and smartphones today said preliminary estimate showed third-quarter profit jumped 20.4 percent to 17.5 trillion won or $15.5 billion on a 4.8 percent gain in revenue.

But sharp price slides for some types of chips 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 plans to disclose detailed earnings later this month. These sales have generated KRW 17.4-17.6 trillion ($15.5 billion) operating profit.

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

Sales from Samsung's chip division are creating big business for the Korean company - which of course, had a challenging Q2 due to the Galaxy S9 smartphone failing to deliver its expected profit growth.

But there are growing concerns over declining chip prices. Similarly, the chip business helped Samsung earn record profits over the a year ago, even though the demand for memory chips continues to slow down worldwide.

Samsung Electronics, meanwhile, is anticipated to face a slight decrease in its operating profit for the fourth quarter in line with changes in global prices of memory chips, industry watchers added.

Brewers defeat Rockies 4-0 in Game 2 of NL Division Series
Jeremy Jeffress, a former Royals pitcher, allowed two runs in the top of the ninth inning. But it was a bunch of longballs to put the Astros ahead in this best-of-five series.

Samsung's mobile unit suffered a heavy blow after a damaging worldwide recall of its Galaxy Note7 devices over exploding batteries in 2016, which cost the firm billions of dollars.

What will be interesting to see is if Samsung's smartphone business can stem the tide after seeing a 22 percent decline in revenue in the previous quarter.

A sweltering summer in the country fueled an increase in air-conditioner sales for Samsung's consumer electronics division, according to Kim.

Samsung's reputation was dealt a blow by the bribery conviction of Lee Jae-yong - the son and heir of the group's current chairman Lee Kun-hee.

But the court of appeal back in February his sanction to the suspended prison sentence and ordered his immediate release, after almost a year behind bars.

ERROR: Macro /ads/dfp-ad-article-new is missing!

Recommended:

  • Kuldeep five-for gives India record Test win against West Indies

    Kuldeep five-for gives India record Test win against West Indies

    Jadeja had to wait till his 38th Test to reach three figures, having made his debut back in December 2012. He led an inspired spin attack with Jadeja claiming three wickets and Ravichandran Ashwin taking two.
    PH condoles with quake-hit Indonesia; to provide financial aid

    PH condoles with quake-hit Indonesia; to provide financial aid

    Sitting on the seismically active Pacific Ring of Fire, Indonesia has been struck by devastating earthquakes and tsunamis before. Workers said they meant to fix all the damage to the networks and substations and get them reconnected to the grid within days.
    'UFC 229: Bad Blood' full episode for Khabib Nurmagomedov vs. Conor McGregor

    'UFC 229: Bad Blood' full episode for Khabib Nurmagomedov vs. Conor McGregor

    The Irishman has not fought competitively since losing to Floyd Mayweather in a multi-million dollar boxing match in August 2016. There will never be peace here. "But if you can't aim for peace, aim between the eyes", he bellowed. "Never, ever, ever, over".
  • Manchester United dismiss report Mourinho will be sacked today

    Manchester United dismiss report Mourinho will be sacked today

    Alexis Sanchez scored a 90th-minute victor for Jose Mourinho's side, who were 2-0 down in the 10th minute. I'm not turning on my football club but I have to say, something has to change; and it isn't the manager.
    Alfred Dunhill: Where to watch Fifer Connor Syme

    Alfred Dunhill: Where to watch Fifer Connor Syme

    Marcus Fraser of Australia and Matt Wallace of England shot 68s in high winds at Carnoustie and St. Andrews, respectively. "Then I was told the news and obviously I am really heartbroken".
    Utah toddler shreds over $1000 his parents saved to pay a debt

    Utah toddler shreds over $1000 his parents saved to pay a debt

    The only drawback is that it may take up to two years. 'She's holding the shredder and she says, "I think the money is in here"'. It handles approximately 30,000 claims per year, redeeming more than $30 million in mutilated cash, according to its website .
  • Snake bite kills British man in Australia

    Snake bite kills British man in Australia

    Another fisherman from Darwin reportedly almost had his finger amputated after being bitten by a sea snake earlier this year. Coroner Greg Cavanagh said in his findings: 'The death of Ryan Donoghue was needless and a tragic waste of a young life.
    How an Eight-Year-Old Discovered a Pre-Viking Sword in Sweden

    How an Eight-Year-Old Discovered a Pre-Viking Sword in Sweden

    Saga Vanecek came across the rusted relic when swimming with her family at Vidostern lake in Tanno, Sweden, earlier this summer. Experts searching the area have not found anything close to the little girl's extraordinary discovery.
    Brett Kavanaugh Could Rescue Donald Trump, Republicans in Midterm Elections, Polls Suggest

    Brett Kavanaugh Could Rescue Donald Trump, Republicans in Midterm Elections, Polls Suggest

    The agreement effectively dismisses a ruling that mandated American ads be shown during Super Bowl broadcasts in Canada. Tina Smith , who is running to fill the final two years of Franken's term, and invited Smith's challenger, state Sen.
  • PSN Name Changes May Soon Be Possible

    PSN Name Changes May Soon Be Possible

    The comment suggested that Sony would implement the much-requested feature by December 2018, two months from now. This means that you will be able to change from or to those infamous usernames like _Blaze4204eva.
    US unemployment falls to 3.7 percent _ lowest since 1969

    US unemployment falls to 3.7 percent _ lowest since 1969

    That trend suggests that a brighter economic outlook hasn't caused consumers to recklessly build up unsustainable debt. Retailers have begun scrambling to hire enough workers for what's expected to be a robust holiday shopping season.
    Spanish opera singer Montserrat Caballe dies at 85

    Spanish opera singer Montserrat Caballe dies at 85

    The Spanish opera singer whose song with Freddie Mercury became the featured single of the Barcelona Olympics has passed away. Her performance that night catapulted her the world stardom throughout the opera scene.


Popular

Manchester City defender Benjamin Mendy heaps praise on manager Pep Guardiola
Klopp is likely to keep faith in the front three of Salah, Mane & Firmino as he looks to press Manchester City high up the pitch. The intervening years have seen Manchester United storm ahead. "They had more chances, we didn't have a shot on target".

Protesters rage as Trump celebrates Kavanaugh victory
It's all expected to conclude Saturday afternoon with a final roll call nearly solidly along party lines. Trump ordered the probe, but later complained that Senate Democrats were just trying to waste time.

Windows 10 October Update Is Deleting People's Files
These files are a copy of C drive including Users folders which includes AppData, Desktop, Documents, Favourites, Links, etc. Other users chimed in with similar complaints, both in the forum thread and on social media, as spotted by MSPowerUser .

Japanese GP Q3 tactics shows Mercedes is best team - Hamilton
And the Brit, who is chasing his fifth world title, will be boosted as big rival Sebastian Vettel is starting eighth on the grid. It is Hamilton's fifth win at the Japanese Grand Prix and the 71 of his career.

Netflix Is Taking Up Around 15 % Of Global Internet Traffic
Internet usage for social media platforms specifically take up 5.1 percent of the world's web traffic. However, the service's encoding technology makes it the most efficient video provider on the internet.

China slams US election meddling charges as malicious slander
Pence will assert that China's actions surpass those of Russian Federation in trying to shape American opinion. But Pence said Beijing's actions add up to a simple message: "China wants a different American president".

Missing Interpol president ‘taken away’ by Chinese officials for questioning
Who is Meng Hongwei? It is not clear why Meng - the first Chinese president of Interpol - would be under investigation. French authorities say he boarded a plane and arrived in China but his subsequent whereabouts are unknown.

President Trump Boasts 'Beautiful' Support for Brett Kavanaugh Ahead of Confirmation Vote
It was a weird claim, but a familiar one for many on the right, who have accused Soros of bankrolling other prominent protests. "Don't fall for it!", Trump wrote on Twitter .

Development chances high for tropical disturbance in Gulf
Regardless of name or not, this system will likely be in a good position to send some moisture our way later in the week. Weather Underground said some models show the storm could strengthen to a hurricane before landfall.

Gary Neville fumes over Man United conduct regarding Mourinho leak
Manchester United manager Jose Mourinho has revealed that a text message from the board quelled his fears about being sacked. They're playing Football Manager with the biggest club in the world. "Stop it.