Samsung Electronics Co Ltd said its third-quarter operating profit likely rose 28% to the highest in three years, driven by rising memory chip prices and display sales for smartphone makers’ new flagship launches.
said its third-quarter operating profit likely rose 28% to the highest in three years, driven by rising memory chip prices and display sales for smartphone makers’ new flagship launches. The world’s largest memory chip and smartphone maker estimated its July-September profit at 15.8 trillion won ($13.3 billion), slightly below a Refinitiv SmartEstimate of 16.1 trillion won. It is highest quarterly result since the third quarter of 2018. « The mobile business’ operating margin might have been lower than the market expected, » said Park Sung-soon, analyst at Cape Investment & Securities. « We will have to see marketing costs and what the mix of products sold was like. » Rising memory chip prices and shipments, plus a jump in profitability at Samsung’s chip contract manufacturing business, likely raised the chip division’s operating profit by about 79% from a year earlier, analysts said.
