Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Samsung Q3 Profit to Dip, Outlook Rosier
Oct 14, 2003
 Printable format
 Email this Article
 Search

Samsung Electronics Co Ltd's quarterly profit is set to show a dip from a year ago on lower income from its credit card unit but to improve from the previous quarter on better sales of its mainstay memory chips.

Higher-than-expected computer demand as students in the U.S. and elsewhere returned to school and low inventory levels are expected to be the key drivers behind Samsung's performance in the third quarter. An expected rise in shipments ahead of Christmas is likely to keep it buoyant.

Samsung, the world's top memory chip maker and the third-largest mobile phone producer, will also show sales of its sleek folding handsets have topped its forecasts on healthy exports to the U.S. and Europe, despite stagnant prices, analysts said.

"The demand for DRAM and flash memory was strong, thanks to back-to-school PC demand in July and August," said Chin Yeong-hoon, analyst at Daishin Securities. "We expect shipments to pick up again in mid-October ahead of Christmas."

The Christmas season is historically the best period for the tech sector, and analysts said this year would show a solid improvement over last year's dismal performance.

Samsung is expected to post a third-quarter net profit of around 1.64 trillion won (U.S. $1.43 billion) when it releases its results soon, according to 10 analysts polled by Reuters.

That is down 5 percent from a profit of 1.73 trillion won a year ago, but up 45 percent from a 1.13 trillion won profit in the previous quarter. Sales are expected to have risen to 11.34 trillion won in the quarter from 9.92 trillion won a year before.

Samsung's special gains should fall to 58 billion won in the quarter from 258 billion won in the previous quarter, due to lower income from its 56 percent-owned Samsung Card unit, a UBS research note said.

Analysts expect Samsung to record 1.77 trillion won in operating profit, unchanged from a year ago but up sharply from 1.16 trillion in the second quarter.

Samsung, Asia's most valuable electronics stock with a market value of about $63 billion, has risen 42 percent so far this year, beating a 22-percent gain in the broader market. (Reuters)

Back to Daily News

 

Daily News

...........................................................

Oct 30, 2014: Whirlpool Corp. reports strong third-quarter

Oct 30, 2014: Statistical Portrait of the European Appliance Industry Released by Appliance Magazine

Oct 30, 2014: New Whirlpool acquisition Indesit reports profit for year so far

Oct 30, 2014: Consumer Confidence Index rebounds in October

Oct 29, 2014: New home sales up slightly in September 2014

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows