Samsung's preliminary 3Q earnings show sharp rise

The tech bellwether showed a sharp rise in sales and operating profit

Samsung Electronics, considered a technology industry bellwether for the number of mobile phones, memory chips, and LCD panels it sells, on Tuesday announced preliminary third quarter sales and operating profit sharply higher than the same quarter last year.

The world's largest memory chip and LCD panel maker said its consolidated sales in the third quarter were 36 trillion Korean won (US$30.8 billion) on a preliminary basis compared to 30.27 trillion in the same quarter last year, while its operating profit more than doubled to 4.1 trillion Korean won from 1.48 trillion.

Samsung will announce its final third quarter results later this month. The company did not comment on the figures. The company likely benefitted from increased prices for both memory chips and LCD screens, analysts say.

Prices of mainstream DRAM, 1GB DDR2 (double data rate, second generation) chips, rose nearly 90 percent in the third quarter compared to the second quarter, according to a report by investment bank Credit Suisse.

The price of NAND Flash memory, used to store songs and photos in iPhones and other gadgets, has also been strong. Chip prices increased in the third quarter and market researcher Gartner forecasts a shortage of the chips in the first half of the fourth quarter ahead of end of the year holidays, followed by oversupply as demand slackens later in the quarter.

Join the newsletter!

Or
Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags samsung

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Dan Nystedt

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?