More

    Samsung Q3 2020 revenue may reach 57 billion USD

    Samsung Electronics announced its third quarter 2020 earnings forecast on Thursday. The company expects its third-quarter revenue to reach 66 trillion won (approximately 57 billion U.S. dollars), an increase of 6.45% from the same period last year, and exceeding the 63.25 trillion won (approximately 54.67 billion U.S. dollars) commonly expected by analysts.

    Operating profit was 12.3 trillion won (approximately US$10.6 billion), an increase of 58.1% over the same period last year, and also exceeded market expectations of 10.5 trillion won (approximately US$9.07 billion).

    EDITOR’S PICK: Nokia announced as the sole 5G supplier for Asia Pacific Telecom

    Analysts said that the reason why Samsung’s operating profit increased so much in the third quarter may be due to the strong recovery of smartphone sales and the boosting effect brought by Huawei’s snapping up of memory chips. 

    The profit of Samsung’s smartphone business accounted for one-third of last year’s total profit. As mobile phone demand rebounded after the new crown pneumonia epidemic suppressed sales in the first half of 2020, the profit of this business may increase significantly. 

    K787P7 Samsung SID2001A CPU on hard disk drive control board

    According to data from Counterpoint Research, a market research organization, Samsung’s smartphone shipments in the third quarter may increase by 48% over the second quarter, from 54.2 million to 80 million.

    As the memory chip business is still sluggish, Samsung’s overall chip business performed weakly this quarter.

    Stay Tuned For More Updates On Tech News, Leaks, Rumors, and Deals. Also, Check Out the Official Giztop Store.

    READ NEXT: Apple makes a push to secure more China based suppliers

    (Via)

    Share this story:

    Recent Articles

    New Sony Xperia 10 III Yellow Edition Increases the Vibrancy of the Color Palette

    Sony last week launched the Xperia lineup of smartphones - the Sony Xperia 10 III and Xperia 1 III. Both the smartphones...

    Deal: Buy Mi 11 Ultra and get a 67W Fast Charger as a Gift

    Last month, Xiaomi launched the most powerful smartphone in the Chinese market dubbed Mi 11 Ultra. The smartphone kills it with its...

    Moto G40 Fusion and Moto G60 Launched: Full Specs, Pricing, and Availability

    Motorola has finally taken wraps off the much-awaited Motorola Moto G40 Fusion and Moto G60 budget smartphones in the Indian market. The...

    Redmi K40 Game Enhanced Edition to Launch on April 27 In China, Could Debut as a Poco Gaming Phone in India

    Xiaomi's sub-brand Redmi has reached heights with its K-series of flagship killer phones. With that said, this year the series was succeeded...

    Samsung Galaxy M32 Is Another Rebranded Phone with 6,000mAh Battery

    Yet another day and yet another rebranded smartphone from Samsung is up in the news. The Samsung Galaxy A32 that launched a...

    Related Stories

    Stay on op - Ge the daily news in your inbox

    Share this story: