Friday, 09 October 2020 11:32

Samsung flags nearly 60% rise in operating profits for third quarter

By
Samsung flags nearly 60% rise in operating profits for third quarter Image by Pexels from Pixabay

South Korean conglomerate Samsung Electronics has flagged a rise of 58.1% in its third-quarter operating profits, with the US ban on Huawei helping to boost its mobile and chip businesses.

The company said in an earnings estimate that it anticipated operating profit for the third quarter to reach 12.3 trillion won (A$14.8 billion).

In the third quarter of 2019, Samsung reported 7.8 trillion won as operating profits.

The 12.3 trillion won figure marks the best performance since the third quarter of 2018 when Samsung reported an operating profit of 17.5 trillion won.

The company's performance has been helped by the latest strictures placed on Huawei which came into effect on 15 September.

These curbs have cut off the supply of semiconductors needed for smartphones while earlier restrictions have blocked the supply of software.

Falling DRAM prices could affect Samsung's fourth-quarter performance. The demand for working from home helped sales of DRAM chips but an oversupply is now affecting prices.

The market research firm Trendforce has predicated a 13% to 19% drop in prices.

According to Yonhap, the average contract price for DDR4 32GB RDIMM, a server DRAM chip mainly purchased by cloud firms, has fallen for three consecutive months.

It reached US$122 at the end of September, down 4.69% from a month earlier, DRAMeXchange data showed.

Read 2077 times

Please join our community here and become a VIP.

Subscribe to ITWIRE UPDATE Newsletter here
JOIN our iTWireTV our YouTube Community here
BACK TO LATEST NEWS here




EXL AI IN ACTION VIRTUAL EVENT 20 MARCH 2025

Industry leaders are looking to transform their businesses and achieve measurable outcomes with AI.

As organisations across APAC navigate the complexities of AI adoption, this must-attend event brings together industry leaders, real-world demonstrations, and visionary panel discussions to bridge the gap between proof-of-concepts and enterprise-wide AI implementation.

Learn how to overcome common challenges in deploying AI at scale.​

Unlock cost savings, efficiency, and better customer experiences with AI.

Discover how industry expertise and data intelligence enable practical AI deployment.

Register for the event now!

REGISTER!

PROMOTE YOUR WEBINAR ON ITWIRE

It's all about Webinars.

Marketing budgets are now focused on Webinars combined with Lead Generation.

If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.

Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.

We look forward to discussing your campaign goals with you. Please click the button below.

MORE INFO HERE!

BACK TO HOME PAGE
Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

Share News tips for the iTWire Journalists? Your tip will be anonymous

Subscribe to Newsletter

*  Enter the security code shown: img0

WEBINARS & EVENTS

CYBERSECURITY

PEOPLE MOVES

GUEST ARTICLES

Guest Opinion

ITWIRETV & INTERVIEWS

RESEARCH & CASE STUDIES

Channel News

Comments