Samsung achieves a record profit of $9.89 billion in the third quarter of 2017 owing to memory chip business

By | October 31, 2017

South Korean tech big Samsung Electronics achieved a internet revenue within the third quarter of 11.1 trillion received ($9.89 billion), a 245 p.c improve from a 12 months earlier, boosted by the robust returns from its chip enterprise, the corporate introduced on Tuesday.

Representational image. Reuters

Representational picture. Reuters

Its working revenue within the July-September interval reached 14.53 trillion received, representing a 279.four p.c improve, the corporate mentioned in a press release.

Gross sales additionally rose by 29.7 p.c to face at a document excessive of 62 trillion received, reviews Efe information.

Each the working revenue and the gross sales income of the electronics big are according to its forecasts printed on 13 October.

The semiconductor enterprise was once more its brightest sector within the third quarter, with a document working revenue of 9.96 trillion received, which is sort of thrice as a lot as a 12 months in the past attributable to rising seasonal demand and the worth improve of its merchandise.

The corporate additionally reported that the IT and Cellular Communications division, which incorporates smartphones, posted an working revenue of three.29 trillion received.

That is three,000 per cent extra in comparison with the dire determine in final 12 months’s third quarter, when the corporate discovered itself in a full fiasco attributable to its Galaxy Word 7, whose manufacturing was finally suspended attributable to repeated instances of battery defects which triggered the machine to overheat and combust or explode.

Even so, and regardless of the superb reception of its new Galaxy Word eight, the determine is 19 p.c decrease than that of the earlier quarter as a result of unfavourable demand for its mid- and low-end fashions within the final three months.

The corporate additionally introduced that, given its continued document yields, it should improve the annual dividend to be distributed this 12 months by 20 p.c from the present quantity to roughly four.eight trillion received.

That quantity will double to 9.6 trillion received in 2018, 2019 and 2020, it added.

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