Samsung Electronics has reported third-quarter earnings sharply declining year-on-year due to the continued slow performance of the global memory chip market, which was the biggest gain. However, Samsung is doing pretty well in other areas.
Overall, the company achieved 62 trillion revenue (~ $ 53 billion) revenue and 7.78 trillion revenue (~ $ 6.71 billion) in operating income, year-on-year decreases of 5 and 56 percent. But the mobile company alone achieved sales of 29.25 trillion won (~ $ 25 billion), an increase of 17 percent, with a 32 percent increase in profits to 2.92 trillion won (~ $ 2.5 billion). The profit is also slightly higher in the display business.
Samsung says that the improved mobile income was due to the strong sales of the Galaxy Note 10 and A-series phones, as well as to achieving better margins on more mass products. Samsung does not break out individual sales figures, but specifically says that the Note 10 sells better than the 9. The display company performed well in selling small and medium-sized OLED panels, compensating for the weaker performance on TV screens; Samsung & # 39; s own TV company recorded a year-on-year profit decline.
In 2020, Samsung expects 5G and foldable phones to further contribute to the bottom line. Until the demand for memory picks up, and it is far from certain that this will happen, it is unlikely that the days of the company routinely record a record profit every quarter.