Saturday, 20 October, 2018


Q3 proves profitable for Samsung and LG Electronics

Samsung Electronics Expects Third-Quarter Operating Profit to Be Its Highest Ever Samsung expects record profits in third quarter
Melba Vasquez | 07 October, 2018, 16:43

LG Electronics said on October 5 its third-quarter operating profit moved up 44.4 percent on-year.

Samsung announced in a regulatory filing a record quarterly operating profit, a 20% year-on-year increase for Q3 of 17.5 trillion won.

Smartphone sales for Apple have stalled in recent years, with its third-quarter results showing iPhone shipments were little changed from the same period a year ago as consumers shrugged off higher prices for its flagship iPhone X model.

Background: Despite a highly positive result, most industry watchers agree Samsung's commercial performance has peaked, largely because its main growth segment - chips - now appears to be set for a period of decline, with demand for both NAND flash modules and DRAM dropping, consequently leading to a decrease in prices.

As indicated by Bloomberg and Reuters, however, the chip division is as yet its greatest business, on account of solid interest from data centers for distributed computing. In addition to smartphones, OLED displays, and memory chips, the company has its tentacles spread into televisions, washing machines and dryers, refrigerators, IoT devices, and more.

That said, the semiconductor business has been a very strong performer for Samsung through the last couple of quarters, and some might suspect this is the case once again. The sales estimate stood at 65.1 trillion won.

"While the third quarter guidance report is positive in that it exceeds earlier market consensus, heavy dependency on semiconductor performance is a negative [for Samsung Electronics]", said Kim Yang-jae, analyst at KTB Investment & Securities. However, falling prices for some electronic components could stunt further earnings growth.

The third-quarter operating profit of the chip business is expected to have hovered above 13 trillion won for the first time ever.

Construction and property group Chip Eng Seng Corp halted trading of its shares before the market opened yesterday after a late Thursday rally in its stock drew a trading query from the Singapore Exchange.

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