Samsung's Q3 Profit Down 56% From Last Year


"The stock-up demand was stronger than expected this third quarter due to the seasonal tailwinds and the pulling forward of end product shipments ahead of a possible new round of United States tariff increases in December", said TrendForce.

The figures were above market expectations of 6.99 trillion won, according to the report by Seoul-based financial market tracker FnGuide.

For the first nine months of this year, Samsung's revenue amounted to 170.5 trillion won (142.5 billion us dollars), down 7.6 percent from the same period of last year.

That would mark the fourth consecutive quarterly drop - but even so, it is better than the market consensus of around 7 trillion won. Consultants had thought Samsung would employ a heavier hit from the ongoing plug in quiz for memory chips, which fable for round two thirds of the firm's profits.

They also expect that revenue has likely fell 5.3% to 62 trillion won from 65.5 trillion won a year ago.

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Samsung Electronics saw its operating profits rise on-quarter in the third quarter, but its profits were down sharply from the same period previous year.

Samsung appealed to high-end users with the launch of its first foldable smartphone last month after faulty screens forced an embarrassing delay in April. -China trade conflict. On Monday, Samsung's domestic rival, LG Electronics, posted operating profits of some 653-million dollars in the third quarter, up more than 4 percent on-year.

Also, by increasing the number of stacked layers from eight to 12, Samsung will soon be able to mass produce 24-gigabyte high bandwidth memory, which provides three times the capacity of 8GB high bandwidth memory on the market today.

Analysts pointed out that Samsung hopes that the latest release of Note smartphones will boost its mobile phone sales this quarter.

"As inventory de-stocking cycles end at major customers, we expect the memory industry to enter a recovery stage in 2020, while the magnitude of recovery will be more gradual (especially for DRAM) relative to previous upturn cycles", JP Morgan said in a 3 October note. Before then, of course, it will expand the availability of the 5G versions of the Note 10 and release the folding Galaxy Fold phone. The earnings guidance was announced before the market opened.