Samsung Electronics reported a significant increase of 29% in Q3 2015 profits, to KR₩ 5.5 trillion ($4.7 billion), up from KR₩ 4.22 trillion YoY, although down from KR₩ 7.5 trillion QoQ. Turnover saw a 9% rise to KR₩ 51.68 trillion ($50 billion) from KR₩ 47.45 trillion ($40 billion) YoY. Net profit was supported by a stronger Won, while turnover was supported by strong smartphone and OLED sales.
The Display Panels (DP) segment registered the strongest growth (after semiconductors), at 13% QoQ and 19% YoY at KR₩ 7.5 trillion ($10 billion). OLED shipments alone increased 30% QoQ, while an increase in shipment area (display size), as well as strong UHD panel sales, supported the increase in profits. The mobile division also showed signs of a rebound: profits were up to KR₩2.4 trillion ($2 billion), compared to KR₩1.75 trillion ($1.5 billion) last year.
After reporting the results, Samsung unveiled a KR₩11.3 trillion ($9.9 billion) share buyback scheme. The company plans to cancel all shares purchased through the buyback, and will give shareholders between 30% and 50% of its spare cash flow over the next three years – primarily through dividends. Such a buyback will help to keep the stock price high.
