Samsung Q3 guidance is out, new profit records set

Samsung Q3 guidance is out, new profit records set

In particular the guidance report estimates that the Samsung's consolidated operating profit will reach 17.5 trillion Korean won ($15.5 billion), with its consolidated sales said to be in the region of 65 trillion won ($57.5 billion).

But sharp price slides for some types of chips have brought an end to a two-year super cycle of tight supply and soaring demand, and analysts expect the July-September quarter will mark a peak in earnings for the South Korean tech giant.

The third-quarter operating profit was up 20.4 percent from a year ago while sales jumped by 4.7 percent.

The company did not provide detailed data for each business division; as with Samsung, finalized earnings will be made public later in the month.

Brokerage firms estimated that Samsung Electronics made roughly 25 trillion won in revenue in semiconductors in the third quarter, up 24 percent from last year's 19.9 trillion won.

Samsung forecast revenues for the third quarter will climb to KRW64-66 trillion, up from the KRW62.05 trillion posted during the same period in 2017. Its business likely won't experience any near-term effects of such a development and its stock should remain stable, or at least unaffected by lower profits that are likely to be generated over the final quarter of the year. It was up 11.2 percent from the prior quarter.

Samsung Electronics has seen profits soar in recent years largely thanks to solid demand for memory chips for mobile devices which has helped offset weakening profits from its own mobile production.

Samsung Electronics' latest phablet, the Galaxy Note9, is advertised at the company's store in Gangnam District, southern Seoul, on Friday.

But the operating income has been supported by a good performance of tvs top of the range - in particular because of the football world Cup - and memory chips.

Some global investment firms Goldman Sachs and Morgan Stanley cast grim outlooks on the global semiconductor market, which they said would be hit hard by falling demand in the fourth quarter and 2019.

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