Samsung forecasts record $15.5B profit thanks to chips not smartphonesJon Russell / TechCrunch - 1 year ago
  • Samsung’s last quarter of business saw its slowest growth of profits in a year thanks to weak sales of its flagship Galaxy S9 smartphone.
  • The Korean firm said in a filing that it expects to revenue jump five percent year-on-year to hit 65 trillion KRW ($57.5 billion) with an operating profit of 17.5 trillion KRW ($15.5 billion), which represents a 20 percent annual jump and an 18 percent increase on the previous quarter.
  • Samsung’s pre-earnings filings are brief and don’t contain detailed information about the performance of its business units, thus we can’t assess demand for its high-end phones — which include the Note 9 — in the quarter that Apple unveiled its newest iPhones.
  • Chips account for some 80 percent of Samsung’s revenue and demand for DRAM, which is important in areas such as cloud, pushed prices up during Q3 but analysts suspect that the growth won’t last.