profit up in the 3rd quarter

profit up in the 3rd quarter
profit up in the 3rd quarter
Samsung Electronics saw its net profit increase by more than 30% in the third quarter (archived).

ATS

South Korean giant Samsung Electronics on Thursday reported a more than 30% increase in third-quarter net profit on strong global demand, and despite challenges with the global supply chain.

The company said that “favorable market conditions continued in the memory market” resulting in “robust sales”.

Its revenue increased 10% year-on-year to a record 74 trillion won (57.9 billion francs), driven by excellent chip performance linked to extremely high demand for time. pandemic.

The rise of work at home has boosted demand for devices running on semiconductors produced by the South Korean juggernaut.

The world’s largest smartphone maker saw net profit of 12.3 billion won (9.6 million francs) for the July-September period year-on-year, the group said in a statement. Operating profit rose 28 percent to 15.8 billion won (12.3 billion francs), the value the group expected at the start of the month.

Supply problem

Samsung Electronics is the flagship of the Samsung group, which is by far the largest of the family conglomerates – the “chaebols” – which dominate the 12th largest economy in the world. The turnover of the group as a whole is equivalent to one fifth of the national GDP.

But the pandemic continues to be a source of uncertainty. The group warned “that a longer-than-expected component supply issue may need to be monitored.”

Supply chain issues plague economic activity around the world, as companies face shortages of critical raw materials, components and transportation capacity.

ATS

Source

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