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Samsung Electronics reports record sales of US$ 63 bil. in Q3 Updated: 2021-10-28 11:56:42 KST


Samsung Electronics has reported strong third-quarter earnings.
According to the company on Thursday, sales topped 63 billion U.S. dollars in the July to September period, up more than 10 percent from a year earlier.
The figure is the best-ever sales result for the firm.
The South Korean tech giant also recorded a third-quarter operating profit of 13.5 billion dollars, up 28 percent on-year.
This marks its second highest operating profit following the third quarter of 2018 during the so-called "super-cycle" when chip makers benefited from price hikes on rising demand.
The strong performance was largely driven by its semiconductor business, which recorded an operating profit of 8.6 billion dollars.
This comes as the price of memory chips, such as DRAM, peaked in the third quarter and sales in the non-memory chip and foundry sector saw increased profitability.
But, some industry watchers say that the gains from the chip industry boom may not continue in the fourth quarter.

"Since shipments of semiconductors are likely to slow down and some DRAM prices are likely to fall, profits will drop for the time being after the peak of the third-quarter earnings."

Samsung Electronics said that the success of its latest foldable phones, the Galaxy Z Fold3 and Galaxy Z Flip3, played a part in leading the solid earnings and so have sales of its small and midsized OLED panels.
Min Suk-hyen, Arirang News.
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