On July 5, 2019, the South Korean flag (left) and the Samsung Electronics flag are flying outside the headquarters in Seoul, South Korea.
Jean Chung | Bloomberg | Getty Images
Samsung Electronics’ share price announced on Friday that operating profit for the quarter ended in September is likely to rise 28% year-on-year to 15.8 trillion won ($ 13.26 billion). Rose.
This will be Samsung’s highest quarterly profit for the three years since the third quarter of 2018. Samsung has made more than 17.5 trillion won..
Still, according to Refinitiv SmartEstimate, Friday’s numbers fell below analysts’ estimated 16.1 trillion won.
Samsung’s share price rose more than 1% in early trading, but eventually traded some of these rises 0.42% higher.
Consolidated sales for the quarter reached a record high of 73 trillion won, which may have increased by 9% from a year ago.
South Korea’s tech giant did not analyze the performance of each business unit, including the semiconductor business, which generates major profits.
“Both revenue and operating profit [are] SK Kim, Managing Director and Senior Analyst at Daiwa Capital Markets, said:
Samsung is likely to be facing logistics problems in the consumer electronics sector, partly affected by a shortage of semiconductors, especially in the smartphone business, Kim said on CNBC Friday.Squawbox Asia“But rising semiconductor prices are likely to have had a positive impact on Samsung’s parts business,” he added.
Daiwa has set a price target of 110,000 won (about $ 92) per share of Samsung, and expects that the rise in semiconductor prices will boost the profits of high-tech companies, so it will rise by more than 53% from the closing price on Thursday. It means that.
Chip shortages are beginning to affect the smartphone industry Samsung and Apple Previously, it was protected from fallout by stockpiling critical components such as memory chips.
At the end of last month Counterpoint Research Lowers Smartphone Shipment Forecast In late 2021, some smartphone makers said they were having a hard time receiving all the components they ordered to make their smartphones.
Full results for the September quarter are expected later this month.
Samsung shares have fallen by more than 11% year-to-date.
Samsung Revenue Guidance for Q3 2021
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