Samsung revenues improved in Q3, phone sales up 2%

Yordan, 31 October 2024

Samsung posted its financial results for July-September 2024, with both sales and operating profit improving on a yearly basis. The biggest contributor was the DS division, which comprises of the memory, system LSI, and foundry businesses. It saw a 78% increase in sales and a 200% jump in total profit of KRW 3.86 trillion.

The MX business, which sells Galaxy phones, tablets and accessories, posted a modest 2% increase in sales but a 14.5% decline in profit as the market was affected by global inflation.

(all units in KRW / USD) Q3 2024 Q2 2024 QoQ Change Q3 2023 YoY Change
Mobile eXperience
Sales
30.52 trillion /
22.13 billion
27.38 trillion /
19.86 billion
11% 30.00 trillion /
21.76 billion
2%
Mobile eXperience
Operating Profit
2.82 trillion /
2.04 billion
2.23 trillion /
1.61 billion
26.5% 3.30 trillion /
2.39 billion
-14.5%
Total sales 79.10 trillion /
57.38 billion
74.07 trillion /
53.72 billion
7% 67.40 trillion /
48.89 billion
17%
Total profit 9.18 trillion /
6.65 billion
10.44 trillion /
7.57 billion
-12% 2.43 trillion /
1.76 billion
277%

Samsung revealed that smartphone demand increased only slightly during Q3. Sales numbers were high because of improved flagship models, and despite the material costs, profit improved sequentially.

Expectations for the next quarter are that the market will grow due to seasonality, which includes the holiday season in Western Europe and the US — Thanksgiving, Black Friday and Cyber Monday deals, Christmas and New Year.

Samsung improves performance in Q3 despite underwhelming phone sales

The memory business remained strong, driven by companies' investments in AI and conventional servers. Some inventory adjustments impacted mobile demand, leading to increased channel inventories and readjustments in purchasing demand.

The outlook for the future is for the market trend to remain similar. However, geopolitical issues and stimulus packages could affect it; for example, China could decide to invest in local companies, and the United States might do the same, effectively hurting Samsung's performance.

Source


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Reader comments

Make no mistake, USA is a country that thanks to Edward Snodwen and Julian Assange cannot spy on their citizens as easily anymore. Not the case in EU (where I live), our governments can do pretty much anything, and don't need to answer about it ...

  • Anonymous
  • 01 Nov 2024
  • LfV

Apparently they are gonna release a06 5g

I hope Samsung releases only 5g phones next year even a0x and a1x

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