Samsung has posted a record profit in its Q3 2013 earnings – thanks to the increasing price of memory chips and affordable Galaxy handsets in mass market.
The Korean giant has revealed that its net income jumped 25% to WON 8 trillion ($7.6 billion approximately) in last quarter because of the increasing sales of affordable smartphones in China and the rising demand of Samsung’s chipsets from many other gadgets makers including Apple.
Samsung recorded WON 10.2 trillion 3rd quarter operating profit and it already given the estimation of WON 10.1 trillion and Sales estimate of WON 59 trillion on October 4, where it recorded WON 59.1 trillion in sales.
Samsung Mobile has taken about 65% of total earnings – WON 6.7 trillion. Q3 mobile sales were WON 5.63 trillion in the same period of last year. The company also told that the smartphone sales growth might slow in Q4 2013, but it will retain the profit margin by selling high-end smartphones like Galaxy Note 3.
Samsung is fighting harder to remain in the top position by releasing varieties of devices such as high-end Galaxy Note 3, Galaxy Gear smartwatch (to make calls, capture photos, check emails and notifications) and Galaxy Round curved smartphone. LG, who posted a positive hope in their Q3 2013 earnings report, also released a curved 6-inch G Flex smartphone to compete with Samsung’s curved phone.
However, the company’s consumer electronics has managed to earn WON 350 billion comparing to last year’s WON 400 billion – sees a slow decrease in profits. Display division’s earnings also slowed down from last year’s WON 1.17 trillion to WON 980 billion.
For complete earnings report, download the pdf from here.