SPARROWS NEWS
  • Home
  • Latest News
  • Upcoming Events
  • Videos
  • Category
  • Contact Us
  • Author
No Result
View All Result
SPARROWS NEWS
No Result
View All Result
  • Phones
  • Events
  • Tablet
  • Wearable
  • Technology
  • REVIEW
  • Computer

Samsung Q3 2019 earnings announced $6.7 billion

by Kamlesh Bhati
October 31, 2019
Samsung's Third Quarter operating profit

Samsung's Third Quarter operating profit

1
SHARES
Twitter

Samsung Q3 2019 Earnings

According to reports, Samsung Electronics reported today that due to continued industry recession, chip prices fell, its third-quarter operating profit fell 56% year-on-year, but increased by 18% compared with the second quarter.

RELATED POSTS

Magician Shows Redmi Note 12 Turbo’s Speed While Cooling Capacity Unveiled

Vivo X Flip Passes 3C Certification and Approved for Network Access and Radio Approval

Realme GT Neo5 SE AnTuTu Benchmark Unveil With Snapdragon 7± Gen2

Samsung said its third-quarter operating profit was 7.8 trillion won (about 6.7 billion US dollars), slightly higher than the company’s previous forecast of 7.7 trillion won. In the same period last year, the company’s operating profit was 17.57 trillion won.

Samsung's Third Quarter operating profit
Samsung’s Third Quarter operating profit

In the third quarter, the consolidated sales amounted to 6.2 billion won, compared with 65.46 trillion won in the same period last year. Net profit for the third quarter was 6.1 trillion won (about 5.2 billion US dollars), better than the average estimate of 5.5 trillion won for analysts.

Samsung’s profit is expected to improve as the memory industry is recovering from the long-term downturn. The Samsung smartphone business has experienced a series of setbacks in the past few years, but now it has benefited from the US government’s suppression of Huawei, and Apple’s iPhone 11 is increasing demand for Samsung Electronics’ most advanced displays.

“We are seeing an improvement in the chip industry,” said broker IBK Securities analysts in an interview on the 22nd of this month. “It is expected that DRAM memory prices will start to pick up in the third quarter of 2020. We expect demand for server chips to grow substantially. And new products for folding screen smartphones will become a new growth factor.”

ADVERTISEMENT

Since this year, Samsung Electronics’ share price has risen more than 30%.

However, some analysts said that Samsung Electronics’ profit fell for four consecutive quarters and is expected to fall again this quarter.

The memory components used in smartphones and data centers are the main profitable businesses of Samsung Electronics.

Earlier this month, Samsung’s domestic rival SK Hynix said that 5G-enabled smartphones will help the global memory market out of the downturn next year.

Samsung Operating Profit Comparison

Consolidated Sales and Operating Profit by Segment based on K-IFRS (2017~2019 3Q)
Consolidated Sales and Operating Profit by Segment based on K-IFRS (2017~2019 3Q)

Source

Tags: Latest NewsSAMSUNGSamsung q3 earningsSamsung third quarter 2019 earnings
TweetShareShare

Related Posts

Magician Show Redmi Note 12 Turbo's Speed and Cooling Capacity
Phones

Magician Shows Redmi Note 12 Turbo’s Speed While Cooling Capacity Unveiled

March 22, 2023
Vivo X Flip Passes 3C Certification, Approved for Network Access and Radio Approval
Phones

Vivo X Flip Passes 3C Certification and Approved for Network Access and Radio Approval

March 22, 2023
Realme GT Neo5 SE
Phones

Realme GT Neo5 SE AnTuTu Benchmark Unveil With Snapdragon 7± Gen2

March 22, 2023
OnePlus 11 Special Version
Phones

OnePlus 11 Special Version to Feature Unique Back Cover Material

March 22, 2023
Lenovo's Legion Phone Business Cut Entirely as Gaming Phone Demand Declines
Phones

Lenovo Shutters Legion Phone Business Amid Struggles in Cell Phone Market

March 22, 2023
Load More

Trending Now

  • Unboxing Video of Huawei P60 Pro Leaks Online Ahead of Official Launch
  • TCL X11G TV: The Ultimate Viewing with 5000nit Peak Brightness and 5184 Mini-LEDs
  • Huawei FreeBuds 5: A Closer Look at the Water Drop-Shaped Design
  • Redmi Note 12 Turbo Design and Release Date Officially Announced
  • Realme GT Neo5 SE AnTuTu Benchmark Unveil With Snapdragon 7± Gen2
  • OnePlus 11 Special Version to Feature Unique Back Cover Material

Recent Posts

  • Magician Shows Redmi Note 12 Turbo’s Speed While Cooling Capacity Unveiled
  • Vivo X Flip Passes 3C Certification and Approved for Network Access and Radio Approval
  • Realme GT Neo5 SE AnTuTu Benchmark Unveil With Snapdragon 7± Gen2
  • OnePlus 11 Special Version to Feature Unique Back Cover Material
  • Lenovo Shutters Legion Phone Business Amid Struggles in Cell Phone Market

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 142 other subscribers
SPARROWS NEWS

Your number one source for all technology and smartphone news. Dedicated to giving you the very best gadget news focus on smartphone, gadgets and technology.

© 2020 SPARROWS NEWS

  • Home
  • Latest News
  • Upcoming Events
  • Videos
  • Category
  • Contact Us
  • Author

© 2020 SPARROWS NEWS

Go to mobile version