This Friday, Samsung Electronics is only due to release preliminary third-quarter financial results for full disclosure later, but analysts are already actively predicting that the Korean giant will achieve record results. In any case, operating profit should grow by 62% and reach a three-year record – $ 11 billion
Image Source: Reuters
The total revenue of the Korean conglomerate, according to experts interviewed by Reuters, will reach a record value in $ 62, 7 billion, showing an increase of 14% year on year. Rival Micron’s weak outlook for the current quarter should not undermine investor confidence in Samsung, as it is not only the largest memory chip maker, but also makes smartphones and provides contract services for the production of chips to third-party customers.
Prices for memory chips rose 7.9% sequentially in the third quarter, while prices for solid state memory rose 5.5% over that time, based on TrendForce data. Analysts believe memory prices will return to rally next year after some drawdown at the end of this year.
According to forecasts of experts, the semiconductor division of Samsung in the third quarter increased its operating profit by 79% to $ 8.3 billion, which was largely facilitated by the dynamics of prices for memory. The contracting division of the company was supposed to raise the profit rate to double-digit percentages – a figure quite worthy for this type of activity. According to analysts, the high popularity of the foldable smartphones Galaxy Z Fold 3 and Galaxy Z Flip 3, presented in August, allowed the company to consistently increase the operating profit of the mobile division from $ 2.7 billion to $ 3.1 billion. By the end of September, Samsung, according to some estimates, managed to realize at least 2 million copies of devices of these models.
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