Samsung's Q3 guidance shows record profits
Samsung’s earnings guidance report for the July - September period is out and the Korean tech giant is expecting huge profits. According to estimates, Samsung posted KRW 66 trillion ($57 billion) in consolidated sales and KRW 12.3 trillion ($10.6 billion) in operating profits.
These numbers are above previous market expectations and the operating profits represent a 58% increase compared to the same period last year when the company saw KRW 7.78 trillion ($6.73 billion) in terms of profits.
As usual, Samsung saw high demand for its home appliances and semiconductor chips. Smartphone sales were driven in large by the Galaxy A series as well as the Galaxy Note 20 series. Another reason for the growth in profits is the lowered budget allocation for offline marketing due to the ongoing pandemic.
Increased demand for display and logic chips were also a big factor for Samsung in the past months. We’ll know the exact numbers next week when the full Q3 earnings report is out.
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Reader comments
- AnonD-731363
- 12 Oct 2020
- SH3
Still i am glad Huawei skipped over Samsung in terms of Sales. Samsung UI is too booring and their phoes are too expensive compared to manufacturing costs.
- Gino
- 10 Oct 2020
- I@a
Whether you like it or not, most phone users dont care what is inside in their phone. As long as they enjoy their phones, they dont care if others do not enjoy the same phone. A few may express their minds in social media (including you tube) but tha...
- AnonD-762416
- 09 Oct 2020
- m2A
That's funny, because you and your astroturfing buddies has been so busy claiming processors is the only thing people cares about and that people hates Samsung's. Here's the reality, people doesn't want a gimped Chinese phone...
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