Samsung Electronics Predicts Highest-Ever Quarterly Earnings

Write : 2017-10-13 14:54:10 Update : 2017-10-13 16:33:15

Samsung Electronics Predicts Highest-Ever Quarterly Earnings

Anchor: Korea's number one tech conglomerate, Samsung Electronics, released its expected earnings for the third quarter of this year, and the figures show that the company will post the largest amount of quarterly profit in its 48-year history. Oh Soo-young reports.

Report: Samsung Electronics is set to record its highest quarterly profit in history, sailing high on its booming memory chip business. 

The South Korean tech giant estimated on Friday that its operating profit during the July-to-September period nearly tripled from a year earlier to 14-point-five trillion won, or roughly 12-point-eight billion U.S. dollars.

This beats the market consensus of 14-point-three trillion won. 

According to the company's earnings guidance, overall sales likely surged 29-point-seven percent to hit 62 trillion won. 

Local analysts believe more than two-thirds of the unprecedented margin came down to sky-rocketing sales of Samsung's semiconductors, as global demand for core memory components continues to grow. 

Samsung is the world's largest memory chipmaker, leading the DRAM and NAND flash markets. Its sales revenue for all semiconductors topped Intel's in the second quarter of this year.

With the recent release of its flagship Galaxy S8 and S8 Plus, the Korean firm's mobile division is also likely to have seen a significant boost.

Experts forecast Samsung to end the year with an even higher margin in the fourth quarter, anticipating a continued upswing in semiconductor sales as well as growing demand of flexible OLED displays.
Oh Soo-young, KBS World Radio News.

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