Samsung Electronics is set to defy concerns over the growth of the global semiconductor market with record third quarter earnings pushing sales up to an estimated 65tn won (£44bn), the South Korean company said.
S amsung Electronics is set to defy concerns over the growth of the global semiconductor market with record third quarter earnings pushing sales up to an estimated 65tn won (£44bn), the South Korean company said.
The smartphone and semiconductor giant reported a 20pc surge in profits for the three months ending in September to 17.5tn won and a 4.8pc increase in revenues. The results continue a strong run of form even as analysts cast gloom over the future market growth.
Analysts have predicted a slowdown in demand for chips, with Morgan Stanley cuttings its outlook for the sector. Samsung’s shares have fallen more than 12pc since the start of the year.
Samsung, known for its smartphones and consumer electronics, makes most of its profits from memory components that feature in billions of devices.
