Samsung Electronics is one of the world’s largest technology company and it seems that the South Korean giant is gearing up to announce its best quarterly profits in three years with record revenue figures.
According to the estimates by analysts, the company is likely to post record revenue on rising memory chip prices and the rising sales of its newly released foldable smartphones — Galaxy Z Fold3 and Galaxy Z Fold3. In fact, it has been confirmed that the company has sold more than a million units of these two smartphones in South Korea so far.
A report of Refinitiv SmartEstimate (via Reuters) from 16 analysts claims that the operating profit for the world’s biggest memory chip and smartphone maker likely jumped to 16.1 trillion won (approximately $14 billion) in the quarter ended September.
If that turns out to be true, then the company is on track to report a 30 percent hike from 12.35 trillion won that it posted a year earlier and the highest since the third quarter of 2018. It is said that the revenue likely rose 11 percent to 74.6 trillion won.
The global shortage of semiconductors has led to price rise amind the COVID-19 pandemic, and as a result, Samsung soared 45% last year and hit a record high at the start of 2021.
Now, with the situation slowly getting in control, the prices for the semiconductor are expected to tumble after peaking in July-September and that outlook has contributed to the falling of Samsung’s stock.
RELATED:
- Samsung introduces the world of Material You colors with One UI 4.0 beta 2
- Samsung confirms Ray Tracing coming to smartphones with Exynos GPU
- Samsung Galaxy S20 FE latest update delivers October 2021 security patch
- Samsung to produce 20 million Galaxy S22 series smartphones: Report
- Samsung does away with ads from Samsung Pay, Health, and Weather apps
