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Last 7 Days News : SU MO TU WE TH FR SA All News

Friday, October 25, 2013
Samsung Reports Record Third-quarter


Samsung Electronics's quarterly operating profit surged 26 percent to a new record, powered by a recovery in its memory chip business as smartphone sales grow.

The company forecast on Friday that strength in its bread-and-butter chip business would continue in the current quarter, while growth in smartphones would slow due to intensifying competition during the year-end holiday season.

The South Korean firm expected smartphone shipments would grow at around 1-5 percent in the current quarter from the previous quarter, while selling prices would remain unchanged or increase slightly.

Samsung on Friday said July-September operating profit rose to 10.2 trillion won ($9.6 billion).

Profits at its chip business doubled to 2.06 trillion won, reflecting stronger chip prices this year and tighter supply since a fire last month at a Chinese plant owned by SK Hynix.

"Mobile DRAM shipments will stay strong with the release of various low- to high-end smartphones as the holiday season nears. With the rise in demand for specialty DRAM and NAND, the market will experience tighter supply," Samsung said in a statement.

The A7 processor inside Apple's new iPhone 5s was made by Samsung, according to a teardown of the handset by IFixit. Samsung processors also are in other iPhones, the iPad and the iPad mini.

The mobile division reported a record 6.7 trillion won profit as a greater variety of cheaper Galaxy smartphones boosted shipment volumes and helped counter weakening growth in the high-end segment.

After adding a smartwatch and its first phone with a curved screen, Samsung registered designs for spectacles to challenge Google's Glass in the wearable devices market.

Profit at Samsung's consumer-electronics division, which oversees the TV and home-appliance businesses, was 350 billion won.

Samsung's display division, which dominates the market for panels using organic light-emitting diodes, had an operating profit of 980 billion won in the third quarter, compared with the 1.17 trillion won a year earlier.

In related news, Samsung Display has started making LCDs at its new eight-generation plant in Suzhou Jiangsu , China.

Suzhou Samsung LCD is currently in operation after a year of consruction. It will mainly produce UHD and Full HD TVs ranging from 48-55 inches.




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