Samsung has made its financial results public which showcases an overall improvement as compared to last quarter’s financial results. According to the South Korean giant, the increased revenue is due to the unexpectedly high sales the Samsung Galaxy Note 10 achieved.
The company has reported KRW 62 trillion in consolidated quarterly revenue and KRW 7.78 trillion in quarterly operating profit.
As compared to last year’s third quarter, the profit has decreased sharply, but if we compare the results to Q2, they are quite promising.
The higher OLED demands have saved the company from massive loss due to the slumping memory business. Samsung’s Memory business sector is observing a downward trend for the past few years. apart from this, the giant has suffered price decline in Mobile application processors (APs) but that has been compensated by the rise of demand in the logic chip business.
As far as the Smartphone business is concerned, the improved sales of Galaxy A-series and the Galaxy Note series boosted the profits.
As the Network Business reported higher year-over-year earnings, the Consumer Electronics Division posted a year-over-year decline in profit from the TV business owing to the pricing pressure as a result of fierce competition in the sector.
In Q4, the company expects seasonal effects where demands for components will be quite sluggish.