Samsung Electronics tipped to log record Q3 profits on solid memory chip demand
SEOUL, Sept. 25 (Yonhap) -- Samsung Electronics Co. is expected to post a record operating profit of 17.2 trillion won (US$15.4 billion) in the third quarter, backed by firm demand for memory chips, market sources said Tuesday.
The consensus by major brokerage firms marks an 18.5 percent on-year increase in the tech behemoth's profit for the July-September period. The revenue is forecast at 65.2 trillion won, up 5.1 percent from a year ago.
The company is expected to release its third-quarter earnings preview next Friday.
The world's top smartphone maker logged a record high 65.9 trillion won in sales in the fourth quarter of last year and a record high of 15.6 trillion won in operating profit in the first quarter of this year.
Strong demand in memory chips is mainly cited as a key factor for the record-breaking earnings rally for Samsung Electronics, analysts said.
The memory chip market has defied the earlier forecast of many analysts that tipped a downturn of DRAM and NAND flash. While it's true the prices have been on a downtrend, fresh demand has helped it keep up the overall sales, they said.
On the yearly basis, Samsung Electronics will likely record a combined 250 trillion won in sales and 65 trillion won in operating profit for 2018, according to the analysts.
(END)
-
(Movie Review) 'Troll Factory' navigates blurred line between fake, real with anticlimactic finale
-
Police officer admits to leaking investigation report into late actor Lee Sun-kyun
-
'Parasyte: The Grey' adapts Japanese alien invasion manga to Korean setting
-
S. Korea, U.S. launch task force to block N. Korea's nuclear, missile programs
-
N. Korean leader sends condolences to Putin over Russian concert hall shooting
-
(Movie Review) 'Troll Factory' navigates blurred line between fake, real with anticlimactic finale
-
'Parasyte: The Grey' adapts Japanese alien invasion manga to Korean setting
-
Police officer admits to leaking investigation report into late actor Lee Sun-kyun
-
Congenital diseases of children born from mothers working at Samsung recognized as industrial accidents
-
N. Korean leader sends condolences to Putin over Russian concert hall shooting
-
S. Korea, U.S. launch task force to block N. Korea's nuclear, missile programs
-
Unification minister slams N. Korea's abduction, detention of S. Koreans as inhumane
-
(LEAD) S. Korea, U.S. launch task force to block N. Korea's nuclear, missile programs
-
(LEAD) Seoul bus drivers go on general strike, cause morning rush hour delays
-
Major hospitals in emergency mode amid huge losses over doctors' walkout