Samsung posts record quarterly revenue on strong chip demand


Samsung mentioned its cellular division bought a lift from gross sales of its new Z Flip 3 and Z Fold 3.

Lexy Savvides/CNET

Samsung on Wednesday reported its highest-ever quarterly income, thanks largely to continued sturdy demand and growing costs for reminiscence chips, in addition to gross sales of panel shows for smartphones.

The Korean electronics large mentioned its income for the three-month interval ended Sept. 30 got here in at 73.9 trillion received ($63 billion), a ten% improve over the year-ago interval, which was the earlier record-setter for income. Samsung additionally reported that its working revenue soared 26% to fifteen.8 trillion received ($13.4 billion), the second highest within the firm’s historical past.

Samsung could also be often called a large in telephones and TVs, however it additionally has big companies making parts like reminiscence chips. The corporate has counted on its parts enterprise to buoy its income, whereas its different electronics have struggled. For the reason that coronavirus pandemic started, Samsung’s chip enterprise has gotten a lift from information facilities that depend on the expertise to retailer every part we’re doing on-line.

The corporate’s semiconductor enterprise reported gross sales of 26.4 trillion received within the third quarter, a 16% improve year-over-year, on continued sturdy demand for servers and PCs as firms go for hybrid work preparations.

Income in Samsung’s cellular panel enterprise rose 21% to eight.86 trillion received on sturdy gross sales of small to midsize OLED panels as main smartphone prospects launched new merchandise. Nonetheless, the corporate’s large-display enterprise continued to endure from worth declines in LCD panels.

Regardless of sturdy demand for brand new foldable telephone fashions such because the Galaxy Z Fold 3, which was launched in August, income within the firm’s cellular division declined 8% to 27.34 trillion received. Samsung mentioned earlier this month that the brand new Z Flip 3 and Z Fold 3 are more popular than their predecessors however did not provide particular gross sales information.

The corporate mentioned it expects demand for its smartphones to extend within the fourth quarter as a consequence of sturdy vacation purchasing, however it additionally warned that considerations over element provides are prone to proceed.

“The Cell Communications Enterprise expects to put up sturdy profitability by increasing gross sales of premium merchandise similar to foldable telephones, assembly alternative demand with low- to mid-range 5G smartphones and growing gross sales of tablets and wearables,” Samsung mentioned in an announcement. | Samsung posts report quarterly income on sturdy chip demand


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