Solid business: Samsung is projected to log US$54.5bil in sales in the July-September period, up 3.1% from a year earlier. — AFP
SEOUL: Samsung Electronics Co is expected to report strong third-quarter earnings, analysts here say, as its mainstay semiconductor business remained solid despite a decline in memory prices, while its mobile and home appliance sales soared on pent-up demand amid the pandemic.
Samsung was projected to log 63.95 trillion won (US$54.5bil) in sales in the July-September period, up 3.1% from a year earlier, while operating profit was estimated to surge 33.7% on-year to 10.4 trillion won over the period, according to Yonhap Infomax, the financial news arm of Yonhap News Agency, which compiled data from 17 brokerage houses.
Should Samsung meet the consensus, the tech giant will post its best quarterly performance since the fourth quarter of 2018, when it logged an operating profit of 10.8 trillion won.Compared with the previous quarter, the estimated figure suggests Samsung seeing a 20.7% increase in sales and a 27.6% jump in operating profit.
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