Samsung expects third-quarter sales to rise due to chip business

Jakarta (ANTARA) – South Korean technology giant Samsung Electronics on Friday expected to record record sales in the third quarter of this year, apparently supported by its semiconductor business.

Citing reports YonhapOn Friday, Samsung estimated its sales to reach 73 trillion won or about Rp. 870 trillion for the July to September period, up 9 percent from a year ago.

The company also projects a third-quarter operating profit of 15.8 trillion won, or around Rp. 188 trillion, up 27.9 percent from a year earlier.

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If the initial earnings results hold up, its sales will be the largest for any quarter to date, while operating profit will be the second largest after the third quarter of 2018.

Analysts believe Samsung’s semiconductor business has driven the company’s third-quarter performance with improved profitability in the memory and non-memory sectors.

“We expect Samsung’s semiconductor business to post an operating profit of around 9.8 trillion won in the third quarter,” said Lee Soon-hak, analyst at Hanwha Investment & Securities, in a recent report.

Samsung did not elaborate on the performance of each of its business divisions and said it would announce detailed earnings by the end of this month.

However, Samsung’s mobile business is also expected to have solid revenue in the third quarter with increased shipments smartphone after the Galaxy Z Fold3 and Z Flip foldable phones were launched in August.

In addition, Samsung’s display panel business is expected to record better revenue than the second quarter. Analyst forecast unit display recorded around 1.5 trillion won (Rp 17.8 trillion) operating profit driven by increased shipments of small and medium-sized OLED panels for high-end products.

However, Samsung’s Consumer Electronics (CE) division, which manages TVs and home appliances, is expected to post a weak performance compared to the second quarter and post an operating profit of around 700 billion won (Rp 8 trillion).

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Translator: Rizka Khaerunnisa
Editor: Alviansyah Pasaribu
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