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Samsung says Q3 profit likely highest in 3 years on rising chip prices

Samsung Electronics Co Ltd stated its third-quarter working revenue seemingly rose 28% to the best in three years, pushed by rising reminiscence chip costs and show gross sales for smartphone makers’ new flagship launches.

The world’s largest reminiscence chip and smartphone maker estimated its July-September revenue at 15.8 trillion gained ($13.3 billion), barely beneath a Refinitiv SmartEstimate of 16.1 trillion gained. It’s highest quarterly end result for the reason that third quarter of 2018.

“The cellular enterprise’ working margin may need been decrease than the market anticipated,” stated Park Sung-soon, analyst at Cape Funding & Securities. “We should see advertising prices and what the combination of merchandise Samsung bought was like.”

Rising reminiscence chip costs and shipments, plus a soar in profitability at Samsung’s chip contract manufacturing enterprise, seemingly raised the chip division’s working revenue by about 79% from a yr earlier, analysts stated.

Semiconductors accounted for about half of Samsung’s working revenue within the first half of the yr.

Samsung shares pared early good points after its preliminary earnings launch to be up 0.7% in morning commerce. It is because of announce detailed earnings later this month.

The inventory has fallen about 12% to this point this yr versus a 3% rise within the wider market, damage by losses in September when U.S. peer Micron Technology Inc stated its reminiscence chip shipments would slip within the close to time period.

Samsung’s present quarter working revenue is anticipated to be just like or barely beneath the third quarter, analysts stated, pointing to expectations that costs for reminiscence chips utilized in private computer systems will tumble from the fourth quarter as international lockdowns ease, whereas smartphone shipments may decline.

A vivid spot subsequent yr is anticipated to be Samsung’s chip contract manufacturing enterprise, which on Thursday introduced plans to begin producing cutting-edge, 3-nanometre chip designs within the first half of 2022, because it races in opposition to trade chief Taiwan Semiconductor Manufacturing Co Ltd to preempt superior know-how and win purchasers.

For Samsung’s cellular enterprise, estimated gross sales of two million new flagship smartphones inside a month confirmed demand for its foldable handsets captured extra of the mass market than final yr, analysts stated.

Nevertheless, this was seemingly offset by advertising prices and better element prices as a result of international chip scarcity.

Samsung’s show unit seemingly noticed stable outcomes as key buyer Apple Inc ramped up orders earlier than its late-September launch of the iPhone 13 sequence, analysts stated.

General income seemingly rose about 9% from the identical interval a yr earlier to a report 73 trillion gained, Samsung stated in a submitting.


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