• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Samsung Electronics likely to report best quarterly profit in 3 years

October 5, 2021 by David Barret Leave a Comment

October 5, 2021

By Joyce Lee

SEOUL (Reuters) – Samsung Electronics Co Ltd is likely to turn in its best quarterly profit in three years and a record revenue, on rising memory chip prices and brisk sales of its new foldable smartphones, analysts’ estimates show.

Operating profit for the world’s biggest memory chip and smartphone maker likely jumped to 16.1 trillion won ($14 billion) in the quarter ended September, according to a Refinitiv SmartEstimate from 16 analysts, weighted toward those who are more consistently accurate.

That would be up 30% from 12.35 trillion won a year earlier and the highest since the third quarter of 2018. Revenue likely rose 11% to 74.6 trillion won, a record high.

An unprecedented global shortage in semiconductor chips amid the pandemic has underpinned Samsung’s results and shares, which soared 45% last year and hit a record high at the start of 2021.

But the stock has dropped since then, compounded by losses in September when U.S. peer Micron warned its memory chip shipments would slip in the near term, amid industry views that chip prices will tumble after peaking in July-September.

“Samsung shares have fallen due to Micron’s guidance but unlike Micron, Samsung internalises major components … and has other businesses like mobile and foundry to buoy performance,” said Hanwha Investment & Securities analyst Lee Soon-hak.

“Memory (chip) prices are seen rebounding next year after a short period of decline,” Lee added.

Samsung will announce preliminary results on Friday.

CHIP DIVISION, SMARTPHONES

Samsung’s chip division is likely to report an operating profit of 9.9 trillion won, an average of six analysts’ forecasts shows, up 79% from a year earlier, helped by rising memory chip prices and shipments.

Prices of DRAM chips, used in servers, mobile phones and other computing devices, jumped 7.9% versus the June quarter, while those of NAND flash chips that serve the data storage market rose 5.5%, data from research provider Trendforce shows.

Analysts also forecast a double-digit operating margin for Samsung’s chip contract manufacturing business as clients rush to secure production capacity.

Its mobile division likely saw about 3.7 trillion won in operating profits, analysts said, down from 4.45 trillion won a year earlier but up from the prior quarter’s 3.2 trillion won on foldable smartphones sales.

An estimated 2 million Galaxy Z Fold 3 and Z Flip 3 models were sold in a month since launching in late August, with South Korea topping sales followed by the United States, said Jene Park, senior research analyst at Counterpoint.

Market participants will be scouring Samsung’s full results later this month for an update on its planned $17 billion U.S. semiconductor factory after sources said it was drawing closer to finalising the construction.

($1 = 1,187.9300 won)

(Reporting by Joyce Lee; Editing by Himani Sarkar)

Source Link Samsung Electronics likely to report best quarterly profit in 3 years

David Barret
David Barret

Related posts:

  1. ‘Stagflation’ trades boom as investors flee U.S. debt
  2. Japan’s struggling PM Suga steps down, sets stage for new leader
  3. Concreit closes on $6M to allow more people to invest in the global private real estate market
  4. Vietnam’s biggest city to start lifting COVID-19 curbs to revive business

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • 2025 SC79 Is The Second-Fastest Asteroid Ever Found – And Only The Second Within Venus’ Orbit
  • When Red Devil Spiders Arrived On A New Island, Their Genome Dramatically Shrank In Half
  • Is This The World’s Oldest Story? Ancient Human Tale About The Seven Sisters May Be From 100,000 BCE
  • This Pill Is Actually A Tiny Printer That Repairs Internal Injuries Using Biocompatible Ink
  • “This Is Amazing”: Scientists Have Found Evidence Of A Long-Lost World Deep Within The Earth
  • From The Shiniest World To Lava And Eternal Darkness, These Are The Weirdest Known Planets
  • Do Sharks Have Bones?
  • The Zombie Awakens: A Volcano Is Showing “First Signs” Of Unrest After 700,000 Years Of Quiet
  • Two Of The World’s Biggest Earthquakes Seem To Be Synched Together
  • California Has A New State Snake, And It’s A 1.6-Meter-Long Giant
  • Experimental Nanoparticle “Super-Vaccines” Stop Breast, Pancreatic, And Skin Cancers In Their Tracks
  • New Nightmare Fuel Unlocked: Watch The First Known Capture Of A Shrew By A False Widow Spider
  • Peculiar Glow In The Milky Way Might Be Dark Matter Signature
  • “I Was Scared To Death”: Missouri’s Great Cobra Scare Of 1953 Was Eventually Solved After 35 Years
  • Two Spacecraft To Fly Through Comet 3I/ATLAS’s Ion Tail – Will They Be Able To Catch Something?
  • Pioneering Heavy Water Detection Suggests Earth’s Water Might Be Older Than The Sun
  • PhD Students’ Groundbreaking New Technique Rescues JWST’s Highest Resolution Data
  • Popcorn-Like Parasites And Weird Worms Among 14 New Species Discovered In The World’s Oceans
  • Poem From 1181 CE Cairo Appears To Reference A Rare Galactic Supernova
  • With “Iridescent Live Colors”, Newly Discovered Beautiful Dwarfgoby Lives Up To Its Name (Mostly)
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version