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Samsung’s Posts Best Quarterly Profit in 3 Years Amid Rising Chip Prices – Gadgets 360 – 152news

Samsung’s Posts Best Quarterly Profit in 3 Years Amid Rising Chip Prices – Gadgets 360

Samsung Electronics on Friday flagged a 28 % leap in its third-quarter working revenue to The very biggest in three yrs, pushed by rising reminiscence chip prices and current gross sales For mannequin spanking new flagship smartphone launc…….

Samsung Electronics on Friday flagged a 28 % leap in its third-quarter working revenue to The very biggest in three yrs, pushed by rising reminiscence chip prices and current gross sales For mannequin spanking new flagship smartphone launches. The preliminary Outcome was up 26 % from the second quarter, although Barely under forecasts, whereas the market response was further muted as analysts pencilled in a flat or slightly decrease Outcome this quarter on an anticipated fall in reminiscence chip prices.

The world’s largest reminiscence chip and smartphone maker estimated its July-September revenue at KRW 15.8 trillion (roughly Rs. 99,190 crores), under a Refinitiv SmartEstimate of KRW 16.1 trillion (roughly Rs. 1,01,080 crores). It is the very biggest quarterly revenue As a Outcome of the third quarter Of two018.

“The mobile enterprise’ working margin Might have been decrease than the market anticipated,” said Park Sung-quickly, analyst at Cape Funding & Securities. “We ought to always see advertising prices and what The combination of merchandise Samsung purchased was like.”

Rising reminiscence chip prices and shipments, plus a leap in revenueability at Samsung’s chip contract manufacturing enterprise, probably raised the chip division’s working revenue by about 79 % from a yr earlier, analysts said.

Semiconductors accounted for about half of Samsung’s working revenue Inside The primary half of the yr.

Samsung shares pared early positive elements to be up 0.4 % in afternoon commerce. It is As a Outcome of of announce detailed earnings later this month.

The inventory has fallen about 12 % So far this yr versus a 3 % rise Inside The broader market, harm by losses in September when US peer Micron said its reminiscence chip shipments would slip Inside the shut to time period.

Analysts said prices for reminiscence chips are anticipated to tumble this quarter as demand For private computer systems drops amid an anticipated easing in worldwide lockdowns Which have helped power gross sales, whereas smartphone shipments Can furtherly decline.

A shiny spot subsequent yr Is predicted to be Samsung’s chip contract manufacturing enterprise, which on Thursday introduced plans To start out producing slicing-edge, 3-nanometre chip designs Inside The primary half Of two022, As a Outcome of it races in the direction of enterprise chief Taiwan Semiconductor Manufacturing Co to preempt superior know-how and win consumers.

For Samsung’s mobile enterprise, estimated gross sales Of two million new foldable smartphones within a month confirmed demand for its foldable handsets captured extra of the mass market than final yr, analysts said.

However, this was probably offset by advertising prices And greater factor prices Due to worldwide chip scarcity.

Samsung’s current unit probably noticed strong end outcomes as key buyer Apple ramped up orders earlier than its late-September launch of the iPhone 13 collection, analysts said.

General income probably rose about 9 % from The identical interval a yr earlier to a doc KRW 73 trillion (roughly Rs. 4,58,230 crores), Samsung said in a submitting.

© Thomson Reuters 2021


Source: https://gadgets.ndtv.com/mobiles/news/samsung-q3-2021-profit-revenue-jump-28-percent-chip-shortage-smartphone-display-sales-2568080


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