Samsung announced record profits

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Samsung заявила о рекордной прибылиThe revenue of Samsung on an annual basis, increased by 4.7%

Samsung Electronics, one of the world’s largest manufacturers of consumer electronics, has released preliminary financial results for the third quarter of 2018.

During this period, the South Korean giant received a record operating profit in the amount of 17.5 trillion won (15.4 billion dollars). This is by 20.4% more than a year ago, largely owing to the semiconductor business. Surveyed by Yonhap Infomax, analysts expected the profit at the level of 17.1 trillion won.

The previous record from the first quarter of 2018, when operating profit was measured to 15.6 trillion won, says Yonhap news Agency.

The revenue of Samsung on an annual basis, increased by 4.7%, reaching 65 trillion won (57,2 billion), slightly less than sredneaziatskogo forecast at 65.1 trillion won. The ratio of operating income to sales rose to 26.9%, which was the highest value in the history of the Corporation.

Samsung did not disclose net profit and segment results. It will do it in the framework of the final report which will be published towards the end of October 2018.

According to market observers, the financial rise of Samsung due to the company’s success in the market of chips. A suitable unit according to experts, in July-September 2018 first received an operating profit in excess of 13 trillion won (11.4 billion dollars).

Despite the generally weak Outlook for the global semiconductor industry Samsung is still ramping up sales here by searching for new business opportunities and seasonal demand, according to analysts.

However, Samsung becomes strongly dependent on the semiconductor business, which brings the company about 80% of operating profit. In the market believe that the South Korean manufacturer needed to diversify its product portfolio, in order to prevent potential errors in the future.

Another major business is the sale of Samsung smartphones. This unit, as analysts predict, recorded in the last quarter, about 2.3 trillion won ($2 billion) in operating profit, against 3.3 trillion won profit a year earlier.

In August was presented to the flagship smartphone Samsung Galaxy Note 9, the supply of which is for the first month in Hana Financial Investment is estimated at 1.38 million units. This corresponds to 65% of shipments to the previous model – Galaxy Note 8. It is expected that Samsung will be able to revive its phone business by creating a foldable device and run fifth generation networks (5G).

After the publication of preliminary financial results for the Samsung shares rose by 1.34% on Friday, 5 October.

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