Samsung profit on track to hit record high
Things are going well over at Samsung – but the shining star of its line-up may surprise you.
It’s not the Samsung’s smart home appliances, its ever-growing QLED range or ‘The Frame’ TVs that are set to push its profits to a record high for Q3 of 2018, but the growing popularity of its chipsets.
Sales from Samsung’s chip division are creating big business for the Korean company – which of course, had a challenging Q2 due to the Galaxy S9 smartphone failing to deliver its expected profit growth. Despite the overall falling prices of chips, healthy demand from data centres for cloud computing is seemingly turning the tech powerhouse’s fortunes around – so much so, that it has hinted that it will likely post record profits for Q3 2018.
The manufacturer’s ‘guidance report’ outlines that its consolidated operating profit is estimated to reach 17.5 trillion Korean won (that’s about US$15.5 billion/€13.5 billion) and its consolidated sales total is forecast to reach 65 trillion won (roughly US$57.5 billion/€50 billion). This would show an increase of approximately 20% than the profit posted for Q2.
Samsung will announce the finer details of its Q3 2018 performance when it shares its complete earnings report at the close of the month.