Samsung bullish on Q3 as chip prices rise - Mobile World Live

Samsung bullish on Q3 as chip prices rise

08 OCT 2021
Samsung

Samsung forecast double-digit growth in profitability in Q3, driven by continued robust demand for semiconductors and its new foldable smartphone lineup, and benefiting from rising chip prices due to an ongoing worldwide shortage.

The world’s largest handset vendor estimated consolidated operating profit for the July to September period would jump 27.9 per cent year-on-year to KRW15.8 trillion ($13.4 billion), with total revenue rising 9 per cent to KRW73 trillion.

Analysts credit the strong gains to rising memory chip prices, which fueled improved profitability of its semiconductor business, accounting for about half of its H1 operating profit.

The earnings guidance didn’t reveal net profit targets or break down revenue by division. It will report full earnings later this month.

Earlier in the week, the company said sales in South Korea of its Galaxy Z Fold 3 and Flip 3, released on 11 August, hit 1 million on 4 October, making them among its fastest selling models ever.

Back

Author

Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

Read more

Related

Tags