Samsung's profit up 26 per cent on memory chip, smartphone sales

Shipments for high-end smartphones were flat quarter-over-quarter for the company

Samsung Electronics' net profit in the third quarter was up 25.6 percent year-over-year on record revenue driven by sales of its memory chips and smartphone products.

The South Korean electronics giant reported a net profit of 8.24 trillion won ($US7.8 billion), up from 6.56 trillion won in the same period a year ago.

Revenue reached 59.08 trillion won, a year-over-year increase of 13 per cent, and meeting the company's forecast.

Samsung is currently the world's largest smartphone vendor. But during the quarter ended September 30, the company saw "intensifying market competition" in the mobile devices space, it said. Shipments of its high-end smartphones remained flat quarter-over-quarter, despite the release of the company's Galaxy Note 3 phablet in late September.

The company, however, saw shipments of its "mass market" handsets in the mid- and low-end segments increase quarter-over-quarter. "Overall, total smartphone shipments increased in the mid-10 percent range" from the previous three-month period, the company said.

Samsung's tablet business, however, is growing at a faster clip. Sales for the devices increased in the "mid-20 percent range" from the previous quarter, partly on demand for the Galaxy Tab 3 products.

The company expects both smartphones and tablets sales will pick up in this year's fourth quarter due to the holiday season and more of its "mass market" phones reaching the market.

Samsung's semiconductor business also reported big gains in its earnings, with revenue growing 12 percent quarter-over-quarter. Sales of the company's memory chips have been high from demand brought on by smartphones and tablets, servers, and game consoles.

But the company saw a one per cent quarter-over-quarter decrease in sales in its panel business. Weakening demand for TV display panels in Europe and China led to a decline in shipments and price. TV panel sales, however, will rebound in the fourth quarter due to the holiday season, Samsung said.

Join the newsletter!

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

Tags business issuessamsungfinancial results

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

Michael Kan

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

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.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?