Samsung posts record quarterly revenue on strong chip demand - CNET

1 month ago 34
yt-z-fold-3-z-flip-3-1

Samsung said its mobile part got a boost from income of its caller Z Flip 3 and Z Fold 3.

Lexy Savvides/CNET

Samsung connected Wednesday reported its highest-ever quarterly revenue, acknowledgment mostly to continued beardown request and expanding prices for representation chips, arsenic good arsenic income of sheet displays for smartphones.

The Korean electronics elephantine said its gross for the three-month play ended Sept. 30 came successful astatine 73.9 trillion won ($63 billion), a 10% summation implicit the year-ago period, which was the erstwhile record-setter for revenue. Samsung besides reported that its operating nett soared 26% to 15.8 trillion won ($13.4 billion), the 2nd highest successful the company's history.

Get the CNET Mobile newsletter

Find the champion phones, apps and accessories with our CNET Mobile newsletter. Delivered Tuesdays and Thursdays.

Samsung whitethorn beryllium known arsenic a elephantine successful phones and TVs, but it besides has immense businesses making components similar representation chips. The institution has counted connected its components concern to buoy its revenue, portion its different electronics person struggled. Since the coronavirus pandemic began, Samsung's spot concern has gotten a boost from information centers that trust connected the exertion to store everything we're doing online.

The company's semiconductor concern reported income of 26.4 trillion won successful the 3rd quarter, a 16% summation year-over-year, connected continued beardown request for servers and PCs arsenic companies opt for hybrid enactment arrangements.

Revenue successful Samsung's mobile sheet concern roseate 21% to 8.86 trillion won connected beardown income of tiny to midsize OLED panels arsenic large smartphone customers launched caller products. However, the company's large-display concern continued to endure from terms declines successful LCD panels.

Despite beardown request for caller foldable telephone models specified arsenic the Galaxy Z Fold 3, which was introduced successful August, gross successful the company's mobile part declined 8% to 27.34 trillion won. Samsung said earlier this period that the caller Z Flip 3 and Z Fold 3 are more fashionable than their predecessors but didn't connection circumstantial income data.

The institution said it expects request for its smartphones to summation successful the 4th fourth owed to beardown vacation shopping, but it besides warned that concerns implicit constituent supplies are apt to continue.

"The Mobile Communications Business expects to station robust profitability by expanding income of premium products specified arsenic foldable phones, gathering replacement request with low- to mid-range 5G smartphones and expanding income of tablets and wearables," Samsung said successful a statement.

Read Entire Article