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

    Realme V15 Review: A Practical Phone With Dual 5G Specs, 50W Flash Charging, And Eye-Catching Koi Color

    Realme confirmed the existence of the Realme Koi series back in Dec.. 2019, with the first teaser suggesting that the series could...

    Huawei MateBook X Pro 2021 Review: Powered By Intel’s 11th Generation Processors To Compete With Business-Centric Laptop

    Huawei on Jan. 17 added three new laptops to its well-received MateBook series in China. The recently introduced list includes the MateBook...

    Redmi K40 series Will Comprise Two Snapdragon 888 Phones

    Xiaomi is gearing towards the launch of its next K-series smartphones in its home market. Last year, the company unveiled the Redmi...

    Zeaplus Studio – Best Active Noise Cancelling Headphone Under $40

    Sony for a long time has been killing it in the wireless over-the-ear headphone market. Before Sony, Bose was heading the segment....

    iQOO 7 Review: Handset Equipped With 120W Fast Charging Solution And The Latest Snapdragon 888 SoC

    iQOO has come a long way since it was first introduced as the gaming-oriented sub-brand of Vivo, however, some of those attributes...

    Related Stories

    Stay on op - Ge the daily news in your inbox

    Share this story: