Science & Technology

Samsung expects 28% operating profit increase in 3rd quarter

Seoul, Oct 8 (EFE).- Samsung Electronics said Friday it expects to register a 15.8 trillion won ($ 13.3 billion) operating profit in the year’s third quarter, representing 27.9 percent more year-on-year thanks to the continued good performance of its chip branch.

This operating result, though below analysts’ estimates, would also represent an advance of 25.7 percent compared to April-June, according to the financial projection of the South Korean technology giant published Friday.

The company based in Suwon (south of Seoul) also said it expects to have a turnover in the July-September period of about 73 trillion won.

This would be a record amount in terms of sales, as well as an advance of 9 percent compared to a year before and an increase of 14.6 percent compared to the previous quarter.

In April-June, the company achieved a significant boost in its operating profit thanks to the strong global demand for semiconductors, a trend that Samsung anticipated would continue in the second half of the year in the context of the global shortage of microchips and integrated circuits.

Analysts anticipate the bottleneck in global supply would allow it to maintain its good sales figures, as well as a positive impact on the company’s results of the improvement of its profitability both in its memory chips area and in that of other types of semiconductors.

As is customary in its forecast earnings report, Samsung, the world’s largest producer of microchips and mobile phones, did not publish forecasts in relation to the net profit it anticipates and did not break down the business volumes of its three divisions.

The South Korean giant will publish its results sheet for the third quarter of the year at the end of this month. EFE


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