Samsung heats another record, but phones are a concern
Samsung heats another record, but phones are a concern
SEOUL: Robust sales of memory chips and displays helped generate another record gain for
in the third quarter, but the company's outlook does not seem so bright.
The world's largest maker of smartphones and semiconductors said on Wednesday it posted a third quarter net profit of 13.15 billion South Korean won ($ 11.5 billion), a historic high and an 18% gain from 11, 19 trillion won past year.
The company's revenues based in Suwon, South Korea, increased to 65.5 trillion won during the three months ended September 30, compared to 62 trillion won the previous year. Operating profit grew to 17.57 trillion won, 21% more than the 14.53 trillion won.
Analysts surveyed by S & P Global Market Intelligence expected the company to record a net profit of 12.9 trillion won and income of 64.9 trillion won for the third quarter.
Of the company previous record net gain it was 12.26 trillion won during the last three months of 2017.
Samsung, which distributes one in five smartphones globally, said revenue for the mobile division fell 10% to 24.91 trillion won, compared to 27.69 trillion won the previous year. Your mobile division benefit was dived by a third party.
In a statement of earnings, Samsung said smartphone shipments were flat and that the fall in profits was attributable to "increased promotional costs and the negative impact of the currency."
Consumers resist $ 1,000 phones and clinging to your devices for longer But the technology giant of South Korea was surprised this year by the low sales of its Galaxy S9 phones, a device marketed around its Animated human emojis. To rejuvenate sales, Samsung advanced the launch of is big Galaxy Note 9 to August 24, weeks before the model of the previous year.
The company also said it is pushing new designs or device advances, including folding screen phones Target of a launch early next year, The Wall Street Journal reported in July. In its results release, Samsung said it would launch a folding screen device in 2019.
But as the mobile unit tries to recover, there are growing signs that the boom in memory chips, driven by the demand for data servers, devices and crypto currency miners, may be cooling.
Reflecting their challenges, Samsung Electronics shares slipped around 17% this year, as investors fear that the shortage of semiconductors that fueled the company's recent record of record earnings has peaked.
The prices of DRAM chips, which give devices the speed of multitasking, could fall by 5% in the last three months of 2018 compared to the previous quarter. That would be the first drop in more than two years, according to DRAMeXchange, which tracks the prices of semiconductors. Next year, prices could fall another 15% to 20%, he said.
The prices of another type of memory chip, NAND, are already falling and could lose another 25% to 30% next year, said DRAMeXchange. Samsung is the largest manufacturer of DRAM and NAND chips.
Other chip makers around the world have recently signaled a slowdown.
SK Hynix
Inc.,
A South Korean memory chip maker posted record operating profits last week, but executives said they would reduce investment next year due to "global economic uncertainties."
Texas Instruments
Inc.,
A US communications chip maker said last week in a profit statement that saw a slowdown in demand in most markets.
Write to Timothy W. Martin in timothy.martin@wsj.com
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