Samsung Sees Increased Sales

Samsung Electronics announced Q3 operating profit of KRW14.53 trillion ($13.0 billion), up from KRW5.2 trillion ($4.7 billion) a year ago, on sales which increased to KRW62.05 trillion ($55.6 billion) from KRW47.82 trillion ($42.8 billion). For the nine months there was operating profit of KRW38.5 trillion ($34.5 billion), up from KRW20.02 trillion ($17.9 billion), on revenue which rose to KRW173.6 trillion ($155.5 billion) from KRW148.54 trillion ($133.0 billion). The OLED business saw an increase in shipments and smartphone shipments also saw a rise. The company also cited higher sales of QLED TVs, but added that the higher cost of LCD TV panels was reducing profits. It said that it in Q4 it would focus on TVs, digital signage and LED cinema.

Samsung 3Q Results main 1