Financial Report Archives - Gizmochina

NVIDIA’s AI Ascendancy Drives Unprecedented Financial Performance, Profit Soars 588% and Revenue Doubles in Q3

Oğuz Çakır — Wed, 22 Nov 2023 18:25:40 +0000

Artificial intelligence technology has truly left its mark on 2023. This technology, which has suddenly appeared in every aspect of our lives and in every service we use, has benefited NVIDIA the most. As evident in the financial reports for the third quarter of 2023 released by the company, NVIDIA increased its revenues by 206% in the last three months, reaching $18.12 billion. During the same period, its profit also increased by 588%. Here are the details…

NVIDIA Profits Skyrocket, Revenue Doubles in Q3

Although NVIDIA is perceived by many as merely a graphics card manufacturer, the reality is much different. The company has a variety of products ranging from data center equipment to chips like the H100 that power artificial intelligence technologies such as ChatGPT. Moreover, thanks to the AI frenzy in 2023, these products are more popular than ever. This demand is also reflected in the company’s financial statements.

According to the reports, NVIDIA generated $18.12 billion in revenue in this quarter across its various subsidiaries operating in different fields. Approximately $14.5 billion of this amount came from hardware sales that enable the operation of artificial intelligence technologies. To put it into perspective, the $18.2 billion earned is 206% more than the previous quarter.

Now, what would be considered a profitable figure for a company to be deemed successful with a $18.2 billion revenue? NVIDIA’s answer to this question is nothing short of impressive. The company achieved a net profit of $10 billion. To scale it, in the same period last year, this amount was $1.4 billion, indicating a staggering 588% growth.

Although NVIDIA’s goal for this quarter was to reach a revenue of $20 billion, the company needs to put in a bit more effort to achieve its targets due to embargoes in countries such as China, Saudi Arabia, and the UAE.

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Xiaomi releases 2023 Q3 financial report, revenue hits $9.92 billion in a strong 2023 comeback

Soumyakanti — Mon, 20 Nov 2023 17:45:42 +0000

Xiaomi is a Chinese tech company known for its wide range of consumer electronics and smart devices. With a focus on offering innovative and affordable products, Xiaomi has gained popularity for its smartphones, smart home devices, wearables, and other tech gadgets. The company’s products are characterized by their competitive pricing and quality, making technology accessible to a broader audience. Xiaomi’s commitment to providing value-for-money options has contributed to its success in various markets around the world.

Xiaomi’s 2023 Q3 Financial Report

Earlier today, the company released its Q3 2023 financial report. According to the report, their total revenue has surged to 70.9 billion yuan ($9.92 billion), and they’ve posted an adjusted net profit of 6 billion yuan ($840 million), marking a substantial year-on-year growth of 182.9%. Notably, Xiaomi has achieved a historic high gross margin of 22.7% and amassed an unprecedented cash reserve of 127.6 billion yuan ($17.8 billion).

A significant part of Xiaomi’s success can be attributed to their continuous investment in innovation, especially in research and development (R&D), which has seen a 22% year-on-year increase, totaling 5 billion yuan ($700 million). This investment drives Xiaomi’s “People, Car, Home” ecosystem strategy, with the centerpiece being the Xiaomi HyperOS. This new operating system, developed over seven years by a team of over 5,000 engineers, is designed to seamlessly connect billions of devices, underscoring Xiaomi’s commitment to building a comprehensive ecosystem.

Xiaomi’s smartphone division, particularly the Xiaomi 14 series, has also experienced remarkable growth, boasting a record gross margin of 16.6% and selling over a million units at launch. Additionally, Xiaomi has excelled in the IoT and consumer products segment, achieving historic highs in revenue at 20.7 billion yuan ($2.8 billion) and a gross margin of 17.8%. Their AIoT platform is now connected to a staggering 699 million IoT devices, and the monthly active users of the Mi Home app have increased by 16% to reach 84 million.

In the global smartphone market, Xiaomi has maintained a top-three position for 13 consecutive quarters. Their internet business has thrived as well, with internet services revenue hitting 78.125 billion yuan ($10.9) and a remarkable gross margin of 74.4%.

Beyond technology and innovation, Xiaomi is also committed to environmentally friendly practices, aiming for carbon neutrality by 2040 and utilizing 100% renewable energy sources. On the social front, Xiaomi has earned recognition as one of Forbes’ global best employers for three consecutive years and continues to make significant contributions to public welfare and education through initiatives like the Xiaomi Public Welfare Foundation and the Xiaomi Scholarship program.

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Tencent’s Q3 2023 report: Revenue hits $21.6 billion with a 39% surge in net profit

Soumyakanti — Wed, 15 Nov 2023 23:48:04 +0000

Tencent is a Chinese technology company known for its wide range of digital products and services. Founded in 1998, Tencent has become one of the world’s largest tech companies. It is best known for its instant messaging platform WeChat, which boasts a large user base and offers various features beyond messaging, such as social networking, mobile payments, and more. Tencent is also a major player in the gaming industry, with popular titles like Honor of Kings and PUBG Mobile under its portfolio. In addition to these core areas, Tencent has investments in areas like e-commerce, cloud computing, and digital entertainment, contributing to its significant presence in the global tech landscape.

Credit: GettyImages

Tencent’s Q3 Financial Report Highlights

Earlier today, Tencent Holdings released its third-quarter financial results, showcasing strong growth and resilience in the ever-changing tech industry. The company reported a total revenue of 154.6 billion yuan ($21.6 billion), slightly below the forecasted 154.8 billion yuan but still a solid 10% increase from the previous year.

Tencent’s standout performance in its financial report is its impressive net profit, which exceeded expectations. The net profit reached 36.18 billion yuan ($5.05 billion), marking an impressive 39% year-on-year increase. Additionally, the non-IFRS net profit of 44.92 billion yuan ($6.29 billion) solidifies Tencent’s position as a formidable financial powerhouse.

Tencent’s success is significantly driven by its international gaming revenue, which grew by 14% to reach 13.3 billion yuan ($1.86 billion). Even when factoring in exchange rate fluctuations, this growth highlights Tencent’s global expansion and its ability to connect with diverse gaming communities worldwide. In its domestic market, Tencent’s gaming revenue also saw a 5% growth, reaching 32.7 billion yuan ($4.57 billion), demonstrating its strong presence in China.

Tencent’s social software division remains strong, with 1.336 billion monthly active user accounts on its flagship platforms, WeChat and Weixin, showing steady growth. This growth is attributed to Tencent’s efforts to boost user engagement, notably with a 50% increase in total playtime on the Weixin Video Account, driven by a growing creator community. However, there are challenges, including a decline in monthly active users for QQ.

Tencent achieved a record high in advertising revenue as well, experiencing a remarkable 20% year-on-year increase, reaching 25.7 billion yuan ($3.60 billion). Given this strong financial report, it’s highly probable that the company’s stock price will go up.

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Chinese EV maker BYD reports $22.7B revenue, profit of $1.4B in Q3 2023

Soumyakanti — Mon, 30 Oct 2023 15:11:41 +0000

BYD is a Chinese multinational company that specializes in manufacturing automobiles, electronics, and rechargeable batteries. Known for its commitment to sustainable technology, BYD has gained recognition for its electric vehicles, hybrid cars, and buses, contributing to the global shift towards cleaner transportation options.

Apart from its automotive business, BYD manufactures electronic components for mobile phones and LED lighting solutions. The company has recently released its third-quarter financial report.

BYD’s Q3 2023 Financial Report

In the third quarter, BYD reported robust financial growth with impressive figures. Their revenue reached CNY 162.151 billion ($22.701 billion), a substantial increase of 38.49% from the previous year. Net profits also surged to CNY 10.413 billion ($1.458 billion), representing an 82.16% rise. These results highlight strong market support and operational efficiency, consistent with their earlier forecast of a significant net profit increase for the first three quarters of 2023.

Although this quarter’s profits didn’t surpass the CNY 10.954 billion ($1.534 billion) reported in the mid-year, it does establish a historic high for BYD. This achievement marks the first time they have exceeded the CNY 10 billion milestone within a single quarter, a feat they previously accomplished only on an annual basis in 2022.

BYD’s financial success can be primarily attributed to strong vehicle sales. In September, they introduced 287,454 new vehicles, with the majority being passenger cars at 286,903 units, reflecting a substantial 42.8% year-on-year increase.

Over the first nine months of the year, cumulative sales reached an impressive 2.07 million vehicles, demonstrating a remarkable 76.23% surge from the previous year. These figures underscore BYD’s growing prominence in the automotive sector and the effectiveness of its market capture strategy.

Additionally, BYD is expanding its brand presence through its subsidiary, Formula Leopard, by opening 70 new direct-operated stores, with 10 more planned. They aim to increase consumer touchpoints in 60+ major cities by the end of 2023, focusing on improving customer experiences and service quality.

BYD has also expanded its presence in 2023 across several countries, including Brazil, India, Indonesia, Mexico, and Thailand, with a focus on electric vehicles and batteries. They’ve formed partnerships with local companies and governments to produce electric buses and vehicles. However, there was a setback in India as their $1 billion electric vehicle factory proposal was rejected.

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BYD projects $2.87-3.15 billion profit in Q1-Q3 2023, anticipating over 120% growth

Soumyakanti — Tue, 17 Oct 2023 23:00:34 +0000

BYD, initially named “Build Your Dreams,” has transformed from a rechargeable battery company to a global powerhouse in the automotive sector, specializing in electric and hybrid vehicles. Their dedication to innovation and sustainable transportation has solidified their status as a strong contender in the fiercely competitive global market.

Recently, BYD has announced impressive financial results. They anticipate a substantial net profit for the first three quarters of 2023, ranging between CNY 20.5 billion to 22.5 billion ($2.87-3.15 billion), marking a remarkable year-over-year increase of 120.16% to 141.64%. To break it down per share, it amounts to CNY 7.06 to 7.74 ($0.99-1.08).

BYD Auto also exceeded expectations in September 2023 by selling 287,454 vehicles, including a strong export of passenger cars, bringing its total sales for the year to 2.07 million vehicles. The company aims to reach an ambitious annual target of 3 million vehicles.

BYD’s Rise: More Sales and Smart Moves Lead to Higher Profits

What’s fueling these robust numbers? Primarily, it’s BYD’s dominant position in the new energy vehicle market. They’ve achieved remarkable sales in the third quarter, solidifying their standing as a global leader in this field.

However, their success isn’t solely reliant on car sales. BYD has also excelled in branding, adeptly managing production costs, and leveraging their extensive scale. Even in the face of tough competition, they remain on an impressive trajectory.

Notably, BYD’s mobile components and assembly division is thriving. This is due to an expanding global market share, a resurgence of interest from Android-based clients, and the growing demand for smart technology and energy-efficient vehicles. They’ve optimized their operational strategy, resulting in improved profit margins.

In a surprising development, BYD surpassed Ford in August, securing the fourth position in the world’s top car brand rankings. They are now in close pursuit of automotive giants like Volkswagen, Toyota, and Honda. Their progress is nothing short of remarkable!

Looking ahead, BYD is focused on enhancing brand visibility, capitalizing on economies of scale, and maintaining cost efficiency. The future appears promising for this automotive titan.

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Xiaomi dominates as China’s security camera online sales surge by 37%

Soumyakanti — Tue, 05 Sep 2023 14:09:42 +0000

In a recent report by Runto Technology, data from July 2023 indicates a robust growth in the Chinese online market for security cameras. Sales reached an impressive 2.03 million units, signifying a 36.5% year-on-year increase, despite a slight dip of 2.2% from the previous month.

Robust Growth in Online Sales: Delving into the Numbers

Financially, this translated to a revenue of 460 million yuan ($64.4 million) – a 41.1% increase from the previous year. Interestingly, there was only a marginal monthly decrease of 0.2%. When it came to the average market price online, the figures stood at 229 yuan ($31), marking a 7 yuan ($0.96) rise year-on-year and a 5 yuan ($0.68) increment from June 2023.

Brands have played a pivotal role in this growth. Xiaomi, the tech giant, took the lead in the surveillance camera online market, boasting a 16.8% share. This positioned the brand on the top, dominating its competitors.

Qiao An wasn’t far behind, securing second place with an 11.1% online market share. However, it’s worth noting that there was a significant difference between Qiao An and Xiaomi’s market presence. The subsequent positions saw Yoosee in third, TP-Link at fourth, and Hikvision rounding off the top five.

A noteworthy observation is the growing trend in outdoor surveillance cameras. Based on the same report, outdoor camera sales constituted 31% of the total market in July 2023, reflecting a 3% year-on-year growth.

These cameras are not only catering to home security needs but are increasingly becoming essential for the small-scale commercial sector. Chain stores, convenience stores, and small supermarkets are some of the beneficiaries, utilizing these cameras to enhance security management.

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Samsung’s Q1 2023 profits fall by 95% due to weak chip demand

Soumyakanti — Thu, 27 Apr 2023 21:17:37 +0000

Samsung, the South Korean technology giant, has reported a massive 95% decline in its operating profit in the first quarter of 2023. This has been largely attributed to the weakening demand for its semiconductor products, which is its largest source of revenue. The company’s chip division incurred a loss of 4.58 trillion won ($3.41 billion) for the quarter, mainly due to the falling memory chip prices and the declining demand for chip products.

Samsung’s Q1 2023 earnings report highlights a significant profit decline

Samsung has reported a revenue of 63.75 trillion Korean won ($47.6 billion) for the quarter, which is down 18% compared to the same period last year. This is the smallest profit for any quarter in 14 years for the company. However, Samsung is optimistic about the future and expects a slight recovery in the current quarter, with the possibility of companies accumulating chips ahead of the third quarter.

Despite the significant decline in the company’s chip division, Samsung’s mobile division has performed well, with a 22% increase in revenue compared to the previous quarter. This has been attributed to the success of the Galaxy S23 series, which has brought in strong sales. Samsung plans to continue supporting the sales of its premium models while also boosting sales of its new mass-market devices like the Galaxy A54 and A34.

Samsung has experienced losses in its memory chip division due to a variety of factors, including the stockpiling of chips by smartphone and PC makers during the pandemic. With consumer demand dropping off amidst high inflation and global economic uncertainties, these stockpiles have left excess inventory that has yet to be depleted.

Overall, Samsung’s Q1 2023 earnings reflect the ongoing challenges in the global semiconductor market. However, the company’s strong performance in the mobile division and its optimism about the future provide a glimmer of hope for investors and technology enthusiasts alike. Samsung is also planning to reintroduce Exynos chipsets in the upcoming Galaxy S flagships.

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Huawei sees largest ever profit decline due to US sanctions

Sean — Tue, 04 Apr 2023 11:54:15 +0000

During its latest earning calls, Huawei has revealed that it saw its largest ever decline in profit. The company saw its biggest annual decline in profits due to the impacts of the sanctions imposed by the US government.

The Chinese consumer electronics and telecommunications giant said that it saw a net profit of a total 35.6 billion Yuan (roughly 5.18 billion US Dollars) for the year 2022. This marked a whopping 69 percent year on year decline. The fall in profits is the biggest ever since the 54 percent annual decline that it saw back in 2011. One of the reasons for the massive decline is due to the massive rise in profits after it sold of its subsidiary, Honor, back in 2021.

This made the decline in 2022 appear quite a bit larger. Huawei also pointed at the rising prices of commodities along with China’s strict pandemic controls last year and the rise of its research and development expenditure as few of the reasons for the decline in profit. According to Huawei’s Rotating Chairman Eric Xu, “In 2022, a challenging external environment and non-market factors continued to take a toll on Huawei’s operations.”

He further added that “In the midst of this storm, we kept racing ahead, doing everything in our power to maintain business continuity and serve our customers”. But despite its largest ever profit fall, Huawei actually a saw a rise in revenue of a meager 0.9 percent to 642.3 billion yuan in 2022.

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MediaTek sees revenue rise following the launch of Dimensity 9000 chip

Sean — Fri, 11 Mar 2022 07:54:57 +0000

MediaTek recent shared a financial report that revealed its consolidated revenue for the first two months of this year. The company has seen robust growth in recent months, rivaling Qualcomm in certain quarters, and now, its newly launched Dimensity 9000 has helped boost its revenue even further.

In February 2022 alone, the Taiwanese chipmaker recorded 40 billion Yuan (roughly 6.32 billion US Dollars) in revenue. This marked one of the company’s best February performance till date, marking a notable 22.9 percent rise over the same month last year. On the other hand, the brand’s performance in the first two months was also robust, with a combined revenue of 83.531 billion Yuan (roughly 13.2 billion US Dollars), which was 23 percent higher than the same period in 2021.

Furthermore, MediaTek also revealed its estimated revenue for the first quarter of this year. According to company CEO Cai Lixing (Via UDN), the increase in revenue was due to the better penetration of the brand’s 5G chipsets alongside the launch of its new flagship 5G SoC, the Dimensity 9000. This is its latest high end processor that will be shipped in premium grade handsets and rivals the Qualcomm Snapdragon 8 Gen 1.

Cai Lixing also believes that MediaTek’s annual growth rate this year will surpass 20 percent. Recently, we have covered numerous reports of the company catching up or even beating its primary rival Qualcomm, in some quarters in 2021. With its new 5G chip launches, the company will likely see robust performance in the coming quarters as well. So stick around for more updates.

Qualcomm reports 35% growth in chip business; Snapdragon chipsets witness 60% annual growth

Jeet — Thu, 03 Feb 2022 07:22:23 +0000

Qualcomm, the company that makes chips for smartphones, has announced its financial results and revealed that the firm generated revenue of $10.71 billion, which is 30 percent more from the first fiscal quarter of 2021.

The net income for the company comes down to $3.40 billion, which is 38 percent more than the $2.46 billion that Qualcomm had reported last year. The numbers indicate increased demand for chips and how increased sales from smartphone manufacturers helped Qualcomm grow its business.

QCT, the chip business of Qualcomm, reported $8.85 billion in sales, which is up 35 percent from the same quarter last year. However, the company’s growth slowed from 63 percent that was reported during the same quarter last year.

The company breaks down the chip division into four categories and each of them reported growth during the quarter. The primary source of revenue for Qualcomm is the 42 percent rise in demand for handset chip sales which stand at $5.98 billion.

Ever since Cristiano Amon took the role of Chief Executive Officer last year, he has prioritized diversifying into different markets, which seems to have worked in the company’s favor. Its sales of car chips or Qualcomm’s automotive business rose 21 percent to $256 million. On the other hand, the IoT division, which focuses on low-power chips, increased sales by 41 percent to $1.48 billion.

The company’s division for wireless connectivity chips, called RF front-end, witnessed an increase of 7 percent to $1.13 billion and in terms of growth, it grew 76 percent during the fiscal year 2021. QTL, the licensing division of Qualcomm, increased 10 percent year-on-year to $1.81 billion in terms of revenue.

Google Pixel 6 breaks company’s previous sales records

Sean — Wed, 02 Feb 2022 09:32:17 +0000

Despite the Pixel 6 series being in the news over various bugs and issues, the Google flagship lineup has seen great success in the market. Now, an official financial report from the company has revealed that the new phones have even managed to break past its previous sales records.

Pixel 6 Pro

Sundar Pichai, the CEO of Alphabet (parent company of Google), stated in the earning’s call that the Pixel 6 series has set an “all time quarterly sales record.” The senior official attributed the latest Pixel phones’ success to its new real time translation tools (Via AndroidPolice). Unfortunately, the Search Engine giant did not reveal any accurate figures and groups its hardware products along with its software as “Google Services.”

It includes Android, Chrome, Google Maps, Search, Google Play, and YouTube as well. But looking at the overall financial figures, we can clearly tell that the brand saw a notable rise, as its revenue hit 69 billion US Dollars in Q4 2021. This also marked a noticeable bump compared to the fourth and final quarter of 2020, in which the company had a revenue of 52.8 billion US Dollars. Meanwhile, profits also saw a boost, reaching 26 billion US Dollars in 2021, compared to 19 billion US Dollars from back in 2020.

With the Pixel series launching sometime between October and November, its clear great sales of the premium grade smartphones helped Google boost its revenue. However, it is still doubtful if the Pixel 6 is actually the best selling Pixel ever, considering it isn’t as widely available as its predecessors and has only been available since October 2021. But with its current pace, it might become the most popular Pixel model.

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boAt brings in over $200mn in FY 2021, but spent just $19mn in salaries

Sean — Thu, 13 Jan 2022 07:03:49 +0000

In recent times, boAt has been a major player in the wearable and hearables market in India. The electronics based startup has seen great success with its products and is now gearing up to launch its initial public offering at a valuation of over 1.4 billion US Dollars.

According to an Entrackr report, the company has also generated revenue that has crossed more than 1,500 crore INR (roughly 203 million US Dollars) in the financial year of 2021. The company’s financial report revealed that its operating revenue surged during this period by around 2.2 times over the same period last year. In the financial year of 2020, the startup brought in just 700.44 crore INR (roughly 95 million US Dollars).

Out of all of its product lines, the wireless earphones and headphones segment were the largest in terms of sales. This category also accounted for 62.7 percent of all of its operating profits in the financial year of 2021. Furthermore, the sales also grew by around 2.5 times, hitting 947.4 crore INR (roughly 128 million US Dollars) in 2021 over just 375.7 crore INR (roughly 50 million US Dollars) from a year prior. Similarly, boAt wireless speakers saw the highest growth overall, with a rise of 2.6 times in 2021.

The wireless speaker category was also the second largest contributor to the brand’s revenue in the last financial year, accounting for 20 percent of its overall revenue. For those unaware, the Indian startup design its products within the country but its manufacturing and assembling is done in China. So, 73 percent of its expenditure is from the expense of procuring its stock. Despite its great performance, only 1 percent of its annual costs went to pay employees’ salaries since it doesn’t have a large team and outsources production and after sales services as well.

Samsung & LG are expecting to see the highest ever sales in 2022

Sean — Thu, 30 Dec 2021 12:45:49 +0000

Samsung Electronics and LG Electronics are expecting to see a great performance in 2022, with both companies projected to see the highest ever sales since their establishment this year.

According to an ETNews report, Samsung is forecasted to bring 75.26 trillion KRW (roughly $63 billion) in sales and 15.07 trillion KRW (roughly $12 billion) in operating profit in the fourth quarter of this year. In other words, the South Korean tech giant’s sales surpassed the third quarter of this year, while also marking an increase of 67 percent over the same period last year. Furthermore, the company is forecasted to earn 278.67 trillion KRW (roughly $234 billion) annually in 2022, which is its highest ever revenue that even crosses its 2018 earnings,

During this year, the company’s operating profits are expected to hit 52.83 trillion KRW (roughly $44 billion), which is also the highest since 2018. The news also arrives amid an explosive demand for semiconductors. Daishin Securities researcher, Soo-bin Lee stated that “Samsung Electronics is expected to enter the upcycle of DRAM memory semiconductors in the new year,” while another researcher, Yu-mi Cha, said that “The situation of automotive semiconductor parts shortage will improve after the first half of the year.”

Similarly, South Korea’s LG is also expecting record performance this year. Its overall sales and operating profits is projected to hit 19.67 trillion KRW (roughly $16 billion) and 831.3 billion KRW (roughly $700 million) respectively. However, while the company saw record high revenue, its operating profits were lower than the first quarter of this year. Despite this, the brand is projected to hit 73.70 trillion KRW (roughly $62 billion) in annual sales for the first time in its history while its annual operating profit is expected to hit the record high of 4 trillion KRW (roughly $3 billion).

Huawei revenue declines by 32% in the first three quarters of 2021, but sales still hit $71 billion

Sean — Fri, 29 Oct 2021 12:41:09 +0000

Earlier today (29th October 2021), Huawei shared a new financial report that showcased its earning for the first three quarters of this year. In the report, the company revealed its overall sales revenue and net profit margin for the three quarters.

Looking at this report, the Chinese tech giant managed to rake in a total of 455.8 billion yuan (roughly 71.3 billion US Dollars) in sales revenue during the 9 month period. Similarly, it also recorded a 10.2 percent net profit margin as well. The company’s rotating chairman Guo Ping stated that the overall performance during this period was in line with Huawei’s expectations. He added that the consumer side of the brand’s operations did take a significant hit, but its business operations remained stable.

The senior official also said that the company will continue to strengthen its technological innovation, with more investment into research and development and talent attraction to continue to improve its operational efficiency. In the financial report, Guo Ping also expressed gratitude towards the company’s loyal customer base and its partners. However, while the report ended in a positive note it isn’t all smooth sailing for the company.

The 455.8 billion yuan total sales revenue marks a sizeable 32 percent decline year on year over 2020. Last year, the company’s first three quarters brought in 671.3 billion Yuan (roughly 1.04 trillion US Dollars). This decline can be primarily attributed to the US trade ban that it faces, with newer reports suggesting even tighter restrictions being on the way. Another major factor in the decline is also it selling off its budget smartphone subsidiary, Honor, last year to help ensuring the brand’s survival.

Samsung sees record sales and new 3 year high operating profit in Q3 2021

Sean — Thu, 28 Oct 2021 11:14:07 +0000

Earlier today (28th October 2021), Samsung Electronics have revealed its financial report for the third quarter of this year, which showcased its strong performance especially with its semiconductor business booming.

In the period between July and September, the South Korean tech giant’s net profits rose by a sizeable 31.3 percent, with the brand’s profits reaching 12.29 trillion won (roughly 10.5 billion US Dollars. The brand shared the financial figures on a regulatory filing that also showcased its operating profits rising by 28 percent in the third quarter, reaching 15.82 trillion won (roughly 13.5 billion US Dollars). Notably, the operating profit was also the largest ever since the third quarter of 2018.

During this same period, the world’s largest smartphone maker’s sales also hit a quarterly record of 73.98 trillion won (roughly 63.2 billion US Dollars). Similarly, Samsung’s operating profits were also up by 26 percent from the previous quarter, with its sales also surging by 10 percent. According to TheKoreanHerald, the primary factor that enabled the company’s strong performance was its chip unit that saw robust growth amid rising memory chip prices, improving yield rates, and higher profitability at its contract based chipmaking business.

Furthermore, its mobile business also saw gains thanks to the launch of its latest generation of foldable smartphones, namely the Galaxy Z Fold3 and Galaxy Z Flip3. While the company saw growth in various segments, certain areas might see a slowdown in the following quarter. Reports have surfaced that point at DRAM/memory chips pricing expected to fall by around 15 to 20 percent in the fourth quarter.

MediaTek records 26.5% YoY growth in sales revenue in September

Sean — Mon, 11 Oct 2021 12:28:47 +0000

MediaTek has just revealed its financial report for the month of September 2021 last week. The company recorded robust growth with its total sales revenue reaching 47.906 billion New Taiwan Dollars (roughly 1.71 billion US Dollars).

According to the financial report, the Taiwanese chip making giant recorded a notable 26.5 percent growth in sale revenue over the same month back in 2020. Furthermore, the company even recorded an 11.91 percent in growth month on month. This figure marks a new high for the company, which has seen a great third quarter performance. Notably, the performance of the the first three quarters of this year has even surpassed the annual sales expectation for the entire year of 2020.

In the third quarter of 2021, the consolidated sales revenue was 131.174 billion New Taiwan Dollars (roughly 4.68 US Dollars). This marks an increase of 4.3 percent quarter on quarter and an annual growth rate of 34.7 percent, which was in line with the brand’s previous estimation. On the other hand, the total sales revenue for the first 9 months reached 364.76 billion New Taiwan Dollars (roughly 13 billion US Dollars), which is a sizeable annual increase of 61.5 percent. MediaTek is set to announce its financial report for the third quarter, and is expected to reveal its plans for the fourth quarter or even next year.

Samsung Electronics indicates 28% growth in operating profit in Q3 2021

Jeet — Fri, 08 Oct 2021 03:47:40 +0000

Samsung Electronics has announced that the company’s operating profit in the third quarter of this year rose by around 28 percent — the highest growth for the South Korean giant registered in three years.

Semiconductors accounted for about half of Samsung’s operating profit in the first half of the year. The rise in the operating profit is likely because of the rising prices of memory chips in the market and the spike in sales for display, catering to the need of smartphone manufacturers for their flagship models.

Samsung estimated that its profit in the third quarter of this year, meaning in the months of July to September, could stand at 15.8 trillion won, which is approximately $13.3 billion. The numbers are below the estimate of 16.1 trillion won by Refinitiv SmartEstimate.

According to industry analysts, the rising memory chip prices and shipments, along with a jump in profitability at Samsung’s chip contract manufacturing business, likely raised the chip division’s operating profit by about 79 percent from a year earlier.

Samsung also benefited from the demand for its recent foldable smartphones and is increasing its market share in this category. The company reportedly sold over two million units of its new flagship smartphones within a month.

The company’s operating profit for the current quarter is expected to be similar or slightly below the third quarter. Analysts are pointing to expectations that prices for memory chips used in personal computers will tumble from the fourth quarter as global lockdowns ease, and the smartphone shipments may also decline.

Samsung’s chip manufacturing business is also showing positive signs and the company recently announced that it’ll start working on the 3nm process for smartphone chips from next year and will shift to the 2nm process in 2025.

Xiaomi sees record high 64% growth in revenue in Q2 2021

Sean — Thu, 26 Aug 2021 08:40:11 +0000

Xiaomi has just shared a new financial report that shows the results for the second quarter of this year. During this period, the company saw a record high growth in revenue, which grew by a sizeable 64 percent year on year.

The Chinese tech giant shared the news on its blog on the official website while the company’s Founder and CEO Lei Jun also shared some key figures on his Twitter handle. In the quarter than ended on June 2021, Xiaomi saw a 64 percent growth over the same period back in 2020. Furthermore, even its net income rose by a significant 80 percent year on year as well. The brand also stated that its smartphone business’ revenue reached 9.1 billion US Dollars.

The company saw this notable jump thanks to its 52.9 million smartphone sales unit in the second quarter, which even had it overtake the Cupertino based giant Apple to become the second largest smartphone maker. During Q2 2021, Xiaomi generated 87.8 billion Yuan in total revenue (roughly 13.5 billion US Dollars) along with 6.3 billion Yuan in net profit (roughly 971 million US Dollars). Furthermore, it even managed to ship over 12 million premium grade flagship smartphones out of its total 52.9 million units sold in Q2.

The brand’s lead the IoT product and services markets in 22 countries and ranked 1st in Europe and Southeast Asia for the first time. Its overseas IoT and Lifestyle products also saw a revenue growth of 93.8 percent year on year, while its overseas internet services revenue also grew by 96.8 percent as well. Notably, the company even invested heavily in this quarter, which rose by 56.5 percent from the previous year.

In June 2021, the company also recorded 454 million active monthly users for its MIUI platform, which was up by 32.1 percent over last year. Additionally, in the first half of this year, the retail prices at or above 3,000 Yuan (roughly 462 US Dollars) were the most common in mainland China, while around the 350 US Dollars mark was the most common price bracket for its overseas market.

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LG sees double digit growth in profits in Q2 2021 after shutting smartphone business

Sean — Thu, 08 Jul 2021 09:46:53 +0000

LG Electronics has recorded a double digit growth in operating profits for the second quarter of this year. The company shared this news in a new financial report, which arrives after the company shut down its smartphone operations.

According to a Xinhuanet report, the initial figures for the operating figures had reached 1.11 trillion Won (roughly 975 million US Dollars) during the period between April and June. This marks a sizeable rise of 65.6 percent over the same quarter from last year. Notably, this was also the highest second quarter profit figures that the South Korean tech giant recorded in the last 12 years, topping 1 trillion Won (878.7 million US Dollars) for the second consecutive quarter.

Furthermore, the company’s revenue reached 48.4 percent over the year, reaching 17.1 trillion Won (roughly 15 billion US Dollars) in the second quarter of this year. This marked the highest ever second quarter reading in the company’s history. Although, the brand has yet to reveal the net income and detailed earnings of each business unit, but the report should arrive later this month.

The consumer electronics maker added that the double digits increase in its earnings was thanks to strong demand for its TVs and air conditioner in the summer season. For those unaware, LG shut down its smartphone business earlier this year as it was a loss making unit for the company.

Parent company of Tecno, Transsion Holdings saw near 60% rise in net profits in H1 2021

Sean — Wed, 07 Jul 2021 11:39:22 +0000

Earlier this month, Transsion Holdings revealed in an announcement that it has recorded a net profit rise of nearly 60 percent year on year in the first half of this year, with the figure reaching 1.72 billion Yuan (roughly 266 million US Dollars).

For those unaware, Transsion Holdings is the parent company of two known smartphone brands, namely Tecno and Infinix. The firm saw a net profit rise of 57.35 percent over last year in H1 2021, which also marks a rise of 626 million Yuan over this period. The company added that it saw a rise in its sales revenue due to the market’s recovery from the Coronavirus pandemic from last year along with other factors as well.

Furthermore, Transsion stated that it has continued to expand its presence in the African market since the beginning of this year, enabling it to better compete in the region. Meanwhile, it has also strengthened its brand image through various publicity and promotional efforts to increase its overall sales. The company further added that it has worked on exploring and optimizing smartphone models that will be suitable for new markets.

Infinix Note 10 Pro

According to a CNBeta report, Transsion Holdings is also improving focus on certain key markets like India, Bangladesh, Pakistan, and other markets as well. At the moment, the company sells its products in more than 70 countries and regions across the globe and has been a notable player in markets like Africa, South Asia, Southeast Asia, the Middle East and South America.

MediaTek sees record revenue growth in the month of May 2021

Sean — Fri, 11 Jun 2021 12:24:09 +0000

MediaTek has just reported its revenue for the month of May 2021. During this month, the company saw a growth of 13 percent month on month, while registering a whopping 90 percent growth in comparison to the same month last year.

According to a DigiTimes report, the chip making giant’s revenue reached 41.33 billion New Taiwan Dollars (roughly 1.5 billion US Dollars) in the month of May. On the other hand, the total revenue for the first five months of this year arrived at 185.93 billion New Taiwan Dollars (roughly 6.7 billion US Dollars), marking another significant growth of 80.2 percent year on year.

MediaTek also announced that it is on track to meet its initial sales growth estimate for the second quarter of this year, which is set between 10 to 18 percent over last year. Furthermore, the firm announced that it is working closely with its backend partners to reduce the impacts of the COVID cluster infections at OSAT King Yuan Electronics (KYEC). The company stated that it is also set to meet its expectations for the full year sales growth and gross margin guidance.

Previously, the fabless chip producer had estimated that its revenue will rise by over 40 percent in this year, recording somewhere between a 44 percent to 46 percent gross margin. The news arrives despite the two day fab closure at KYEC that led to 30 to 35 percent loss in its June output.

Xiaomi profits and revenue reach record high in Q1 2021

Sean — Thu, 27 May 2021 07:36:03 +0000

Xiaomi recently announced its unaudited consolidated results for the first quarter of this year. This financial report had the company register record high profits and revenue in the period ending on March 31.

As per an official blog post, the Chinese tech giant announced that its expectations regarding adjusted net profit and its overall revenue had far exceeded market projections. The company’s total revenue for this period was 76.9 billion Yuan (roughly 12 billion US Dollars), which marked a rise of a sizeable 54.7 percent year on year. On the other hand, the brand also recorded an adjusted net profit of 6.1 billion Yuan (roughly 965 million US Dollars), with profits seeing a whopping 163.8 percent growth year on year.

The smartphone maker added that “The strong growth of smartphone shipments drove a continued expansion of our global user base. Our AIoT platform has continued to scale in tandem across the world. Besides the solid growth in our existing business lines, we are also continuing to explore new opportunities and broadening our business horizon. In March 2021, we unveiled our new branding identity and also announced our official foray into the smart electric vehicle business, setting the course for an exciting journey that will ensure a bright future for the company in the coming decade.”

During Q1 2021, the company shipped a total of 49.4 million units and the gross profit for its smartphone business was around 12.9 percent. Xiaomi even maintained the third position in the global smartphone market, in terms of shipments, achieving a market share of 14.1 percent. Meanwhile, in China, the brand came fourth and had a market share of 14.6 percent.

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MediaTek records $1.32 billion in revenue in April, sees over 70% YoY growth

Sean — Tue, 11 May 2021 08:03:15 +0000

With its entry into the 5G smartphone processor market, MediaTek has seen a surge in its revenue and overall market share. Now, the company recently announced that it brought in 1.32 billion US Dollars in revenue in April 2021 alone, marking a year on year growth of more than 70 percent.

According to an official announcement, the chipmaker announced that it recorded consolidated net sales of 36,572 million New Taiwan Dollar in the month of April. This roughly translates to about 1.32 billion US Dollars in revenue. Back in the same month last year, the company saw a revenue of 20,546 New Taiwan Dollar (roughly 735 million US Dollars), thus marking a growth of 78 percent year on year and 16,026 billion New Taiwan Dollar (roughly 573 million US Dollars).

Furthermore, the company also shared the consolidated net sales for the first three months along with April as well. Through this, we can observe that the company saw a year on year revenue growth of 77.63 percent, with the chip maker recording sales worth 144,605 New Taiwan Dollar (roughly 5.18 billion US Dollars) this year compared to 81,409 New Taiwan Dollar (roughly 2.91 billion US Dollars) earnings during the same period last year.

While MediaTek saw a strong growth year on year, it also saw a slight decline sequentially. Just a month prior, the company generated 40,147 million New Taiwan US Dollar (roughly 1.43 billion US Dollars) in revenue. This marks a slight decline of 8.91 percent month on month. Although, in an annual comparison, the company has still seen great growth.

AMD raises revenue projection, supply chain has improved: CEO

Sean — Wed, 28 Apr 2021 12:35:04 +0000

Advanced Micro Devices Inc (AMD) has raised its annual revenue forecast earlier this week. This arrives as the company bets that its chips used in data centers and consumers’ PCs as the chief executive of the firm is also confident about the supply chain’s current situation.

According to a Reuters report, the chip designer’s shared had risen recently by about 4 percent in extended trading after it also recorded results that were better than expected for the first quarter of this year. Furthermore, AMD CEO Lisa Su has “good visibility” and that the company is confident to secure additional chips from its manufacturing partners. Su added that “The entire semiconductor supply chain is very, very tight. That being said, we’ve been working very closely with our supply chain partners. We have seen improvements that have led to the improved full year guide.”

For those unaware, Team Red has recently been stealing market share from Intel over processors, meanwhile, the company is also seeing a surge in demand for its graphcis cards as well for gamers. AMD now believes that their revenue will rise by 50 percent from a year prior. This means that the company could generate about 14.64 billion US Dollars, which marks a rise from the previously forecast that projected a 39 percent jump.

Lisa Su stated that “We feel very good about our progress, particularly in notebooks. We’re seeing traction in the premium ultra thin, gaming and commercial.” The brand is is expecting its computing and graphics business, which also includes graphics and central processing chips for personal computers rose by 46 percent to 2.10 billion US Dollars while its enterprise business that targets data centers chips posted a jump in sales as well, reaching 1.35 billion US Dollars.

Samsung profit surged 45% in Q1 2021 due to smartphone and appliance sales

Jeet — Wed, 07 Apr 2021 08:06:19 +0000

Samsung Electronics launched its flagship S-series smartphones earlier this year than its usual timeframe. The release of the Samsung Galaxy S21 series seems to have helped the company achieve its goal.

According to the report, Samsung likely saw a jump of 45 percent during the months of January to March, i.e. Q1 2021, thanks to the robust sales of the company’s smartphones and home appliances.

Because of the COVID-19 pandemic, people are not spending more time at home and this has resulted in the demand surge for a wide range of high-margin consumer electronics products, helping the company increase revenue.

The demand is so high that it has created a global shortage of chips and other components. However, the company registered a decline in the earnings for the chip division mainly because of the storm that suspended production at its plant in the United States.

The Reuters report, citing several analysts claims that the operating profit for the South Korean tech giant in the quarter is expected to have climbed to 9.3 trillion won, which is approximately $8.2 billion. This would mark Samsung’s highest operating income level for the first quarter since 2018.

Samsung is estimated to have cornered roughly 23% of the global market in the quarter, thanks to that launch and cheaper-than-usual pricing for its premium devices. That compares with a 20% market share in the same quarter a year ago and a 16% market share in the previous quarter when Apple released the iPhone 12.

Xiaomi records strong 2020 annual results, sold over 10 million premium smartphones

Sean — Thu, 25 Mar 2021 11:20:04 +0000

Xiaomi has just announced its financial results for the last year. The numbers reveal a strong year for the company, which marked a notable growth of 17.5 percent year on year over 2019, reaching 146.4 million shipments in total.

The Chinese tech giant shared its financial performance on Twitter earlier this week. In the images shared by the smartphone manufacturer, the company revealed that it managed to also sell over 10 million premium or high end handsets in 2020. Furthermore, the brand added that its MIUI now has more than 400 million monthly active users. Notably, about half of the company’s entire revenue is now from the overseas market.

Xiaomi’s premium smartphones are those devices that are sold over 3,000 Yuan (roughly 460 US Dollars) in its home country, China, or above 300 Euros (roughly 350 US Dollars) in the overseas market. So, this figure does not strictly refer to its flagship series of smartphones. Interestingly, the rise of its handset shipments in 2020 helped the company climb the list to become the third largest smartphone manufacturer in the world, while Huawei saw a sharp decline during the same time.

Additionally, Xiaomi was also able to bring in most of the demand for handsets and managed to increase its domestic shipments by a whopping 51.9 percent year on year. The company had an overall revenue of about 245 billion Yuan (roughly 37.4 billion US Dollars), out of which, 152 billion Yuan (roughly 23.2 billion US Dollars) was from smartphones alone with the remaining arriving from its other electronics portfolio.

Samsung sales decline due to Apple, but is hopeful with its cheap foldable and 5G Galaxy devices

Sean — Thu, 28 Jan 2021 10:44:00 +0000

The mobile division of Samsung didn’t witness a very impressive final quarter last year, which was within expectations. The company faced “intensified competition in the year-end season,” as per its recent earnings report.

During Q4 2020, the company saw a decline of 11 percent year on year when compared to its performance in 2019. The “intense” competition here likely points to Apple and its iPhone 12 series, which stole the show during the fourth quarter of 2020. While the iPhone 12 lineup faced a delay in launch and even faced a staggered release for a couple of its models, the company managed to stretch its early buyer’s phase till the month of December, as per a PhoneArena report.

Due to the pent up market demand for new an iPhone upgrade, Apple saw a significant rise in iPhone shipments during this period, with its iPhone sales also surging by 17 percent year on year. This resulted in the company drawing in a revenue of 111 billion US Dollars out of which near 29 billion US Dollars was the operating profit. The lack of any new Galaxy handsets to compete with and a rise in marketing costs during the holiday season led the Samsung mobile division to only see a modest performance during this time.

While the company’s display division managed to see great sales due to it supplying the iPhone OLED screens, its memory and chip sales saw a decline as well, with the company only bringing in about 6 billion US Dollars in net profit. Despite the lackluster performance in the final quarter of 2020, Samsung is optimistic about 2021 and it’s first few months, unlike Apple.

The former is expecting better performance thanks to its strong 5G enabled Galaxy handsets portfolio along with its cheap foldable lineup as well. As per official Samsung notes, the company will “strengthen leadership in our flagship lineup by expanding S21 sales and popularizing the foldable category… [and] increase smartphone sales by fully addressing replacement demand for 5G with mass-market 5G models.”

Samsung to expand its foldable smartphone portfolio in 2021

Sean — Fri, 30 Oct 2020 11:08:09 +0000

Earlier this week, Samsung Electronics revealed its operating profit and other details with its latest financial report. The South Korean tech giant accredited its growth and profits to various different factors and also stated its plans on expanding its foldable smartphone portfolio in 2021.

Image via TheElec

According to TheElec report, the operating profits of Samsung were the highest in two years, with sales also reaching an all time high for a quarter. From its overall profits of 12.35 trillion won (roughly 10.9 billion US Dollars), its smartphone business accounted for nearly a third or 4.45 trillion won (roughly 3.9 billion US Dollars), which is also a rise of 1.54 trillion won (roughly 1.35 billion US Dollars) from the same period back in 2019. The company stated that efficient management of costs and marketing is what helps in its profitability.

At the conference call, Samsung revealed that it plans to expand the price range of foldable smartphones as well. In other words, we would likely see foldable handsets with a bit more affordable price tag. At the moment, foldable devices only account for a small fraction of the company’s total smartphone sales, but it is projected to grow every year. Despite seeing a strong third quarter, Samsung is expecting profits and sales to drop by the final quarter due to increased competition from its rivals during year end sales.

Samsung Galaxy Z Fold2 5G Mystic Bronze

The company stated that the pent up demand caused by the Coronavirus pandemic for smartphones also helped boost sales during the third quarter of 2020. This wasn’t limited to just smartphone sales, but also the company’s other consumer electronics product lineup as well. Larger screen devices also rose in popularity as the work from home scenarios have become the norm in 2020.

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Samsung expects profit decline in Q4 2020 due to lower server chip demand

Jeet — Thu, 29 Oct 2020 07:22:56 +0000

Samsung recently revealed its financial report for the third quarter of this year (Q3 2020). The company announced that for the duration of July-September, it’s profit grew by 59 percent to 12.35 trillion won or $11 billion.

It’s noteworthy that this is the South Korean giant’s highest quarterly smartphone profit in years. But the company has also added that it is expecting a decline in its profit in the next quarter, i.e. in Q4 2020.

The reason started by Samsung for expecting a decline in profit next quarter is the weak demand for server chips and increasing competition in the smartphone market. Although the market amid the COVID-19 pandemic, the South Korea-based company is still wary of the disruption caused and rising tensions because of the US-China trade war.

EDITOR’S PICK: USA allows companies to supply chips to Huawei as long as it’s not for 5G business

Reuters reports that in an earnings call, Ben Suh, Samsung’s executive vice president of investor relations, said that “Global demand is forecast to increase year on year, but uncertainties are unlikely to ease given the possibility of additional waves of the pandemic.”

However, Samsung is expecting a rise in demand for mobile chips as China-based customers have increased their orders after the United States government imposed more restrictions on Huawei.

Samsung has announced that the company’s profit in the chipset business rose 82 percent to 5.54 trillion won compared to last year. The company’s revenue increased by 8 percent to 66.96 trillion won while the net profit rose 49 percent to 9.36 trillion won.

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LG Display turns profit on new iPhones that made loss of Huawei ‘manageable’

Sean — Fri, 23 Oct 2020 10:02:36 +0000

Earlier this week, LG Display revealed a new financial report, which saw the company turn over a profit for the period between July to September 2020. This marked the end of a six quarter streak of losses.

According to a Reuters report, the shipments made to Apple for their latest iPhone 12 series was a part of the reason for the positive growth. Furthermore, the new norm of working from home and staying indoors had also boosted the sales of various TVs, laptops, and other large screen devices that the company manufactures. The South Korean display maker is also expecting the panel shipments to rise along with sales in the current quarter as well.

Apple’s new iPhone 12 series have apparently helped the company offset the suspension of sales to China’s Huawei, due to US sanctions. Notably, LG Display saw an operating profit of 164 billion won (roughly 145 million US Dollars) in the third quarter, which is in stark contrast to the 437 billion won loss from back in 2019. This figure also surpassed the estimated 64 billion won profit that was expected by analysts by a large margin.

The company’s overall revenue also rose by 16 percent to 6.7 trillion won, as per a recent regulatory filing. For those unaware, the OLED panels on the iPhone 12 lineup are from LG Displays, which is a huge deal considering it helps the company find a strategic partner in North America and will help lift its earnings while utilizing its full production capacity as well.

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Huawei sees sharp decline in growth due to US Sanctions

Sean — Fri, 23 Oct 2020 08:31:48 +0000

Huawei is seeing a sharp decline in its growth as the impacts of the US sanctions take hold. In the third quarter, the company saw its margins dip as the reinforced regulation disrupt its operations.

According to a CNBC report, the Chinese tech giant had brought in 217.3 billion yuan (roughly 31.91 billion US Dollars) in revenue in September 2020. This marks a slight growth of 3.7 percent from 209.5 billion yuan from last year (roughly 31 billion US Dollars). The first nine months combined had the company bring in 671 billion yuan (roughly 98.57 billion US Dollars) in revenue, which marks a growth of 9.9 percent from the same period last year.

This showcases a significant slowdown in growth as the first nine months of 2019 had the Chinese smartphone maker sees revenue growth of 24.4 percent over 2018. Furthermore, Huawei’s net profit margins were 8 percent for the first nine months, which was also lower than the 8.7 percent from back in 2019. The effects of the recent US sanctions are clearly showing its effects on the consumer electronics brand.

For those unaware, Huawei was placed on the Entity List back in 2019, and since then faced various pressures from Washington. The ban had also caused the company to lose Google support for its Android smartphones. This meant that its overseas smartphone business fell sharply during, despite its home market still thriving. Additionally, losing its primary chip supplier TSMC was another major blow to the company earlier this year.

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TSMC sees record high revenue crossing $4.2 billion in August 2020

Sean — Thu, 10 Sep 2020 09:41:50 +0000

Earlier today (10th September 2020), the world’s largest contract chipmaker, TSMC, announced its revenue for the month of August. The company generated 4.2 billion US Dollars, setting a new record high for the company.

TSMC is a known chip manufacturer that supplies chips to various tech giants including, AMD, Apple, NVIDIA, and more. According to the company’s official website, TSMC generated 122.878 billion New Taiwan Dollars or roughly 4.2 billion US Dollars. This marks a notable increase of 15.8 percent year on year or 106.118 billion New Taiwan Dollars (roughly 3.6 billion US Dollars) during the same month in 2019.

Furthermore, the revenue doesn’t just mark a new record high for the company but also marks positive revenue growth after the chipmaker’s revenue fell by 12 percent month on month back in July 2020. TSMC saw a 16 percent increase in revenue over a month prior. Notably, the last time the firm’s revenue reached this high was back in June, when it generated 120.878 billion New Taiwan Dollars (roughly 4.12 billion US Dollars).

Details from TSMC’s official website also reveals that the revenue generated by the company in the first 8 months of this year reached 850.137 billion New Taiwan Dollars (roughly 29 billion US Dollars). This marks an increase of over 195 billion New Taiwan Dollars from the same period back in 2019 or a sizeable increase of 30.7 percent year on year, which is quite an impressive performance considering the ongoing Coronavirus pandemic affecting many economies and industries across the globe.

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Xiaomi sees marginal growth in India despite production restrictions

Sean — Thu, 27 Aug 2020 07:10:57 +0000

Xiaomi recently revealed its financial report for the second quarter of 2020. In this period, the company saw a revenue of 7.77 billion US Dollars, which is a rise of 3.1 percent during the same period last year.

The revenue from Q2 is also higher than Q1 by about 7.7 percent for the Chinese tech giant. In other words, the company is seeing a recovery in its overseas market, according to a TechCrunch report. Xiaomi’s recently appointed CFO, Alain Lam, stated that the company’s profits stood at 650 million US Dollars, which is up by 129.8 percent year on year and 108 percent in comparison to Q1 2020.

Xiaomi’s smartphone sales still account for the majority of the company’s revenue and have recovered in most of its overseas markets. This excludes one of its largest market India, where Xiaomi had to shut down most of its stores and production sites as the local government enforced a nationwide lockdown across the country. The measures to combat the Coronavirus pandemic started in late March, which affected the delivery and sales of “non-essential” goods in the region.

Since then, the lockdown has eased considerably, with production and sales ramping up. Compared to January 2020, the daily average of smartphone activations was around 72 percent as of July. In other words, the lockdown had adversely affected the company’s operations and sales. According to Xiaomi’s official statement, local production was the cause “as the production capacity had not yet returned to the normal level, our sales were still limited by the production constraints.”

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Huawei sees positive trend in the financial report for H1 2020

Sean — Tue, 14 Jul 2020 10:49:09 +0000

With the calendar crossing the half yearly mark, Huawei has announced its financial report for the period. In the report, the Chinese tech giant has witnessed a positive trend with both its revenue and net profit increasing by 13.1 percent and 9.2 percent respectively year on year.

The financial report revealed that Huawei generated 454 billion Yuan (roughly 64 billion US Dollars) in revenue. Out of this, the carrier business brought in 159.6 billion yuan, while the enterprise business brought in 36.3 billion Yuan. The company’s consumer business, which includes smartphones, generated 255.8 billion Yuan in revenue.

Looking at these figures, it is clear that more than of Huawei’s income is from its consumer business that has it sell tablets, smartphones, wearables, and many other products across the globe. Although, the networking gear and carrier provider aspect of its operations is brought the ban on the company, and accounts for just 35 percent of the total revenue.

Additional reports regarding financial figures of the first half and second quarter are expected to arrive later this month. These will hopefully provide a larger picture of its global smartphone market as well. The first half of 2020 suffered the brunt of the Coronavirus pandemic, so the figures will reveal how Huawei stands amongst its various other competitors.

(Via)

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Samsung Galaxy Note 20 and Galaxy Fold 2 confirmed to launch later this year

Sean — Thu, 30 Apr 2020 07:26:22 +0000

Samsung has just confirmed through its recent financial report that the Galaxy Note 20 series and the Galaxy Fold 2 will launch later this year. While the report primarily revolved around financial figures, it also revealed certain interesting information as well, especially related to the highly anticipated handsets mentioned above.

Samsung Galaxy S20 series

While the South Korean tech giant didn’t directly name individual models, it did state its plans on improving product sales for the second half of 2020. It is clear from the reports that the performance in the first quarter and the first half overall wasn’t satisfactory. A major reason for the decline in sales is likely attributed to the Coronavirus pandemic.

Thus, the company is looking to bolster its offerings to attract higher sales in the latter half. Samsung, while not revealing names, stated that the new Galaxy Note and Galaxy Fold models will play an integral part of its plan for the second half of this year. So, it is almost a complete confirmation regarding the Galaxy Note 20 and Galaxy Fold 2 being an important part of the premium segment, through which the company plans on bolstering sales numbers again.

Unfortunately, Samsung did not reveal any specifics about the flagship devices apart from the role they will come to play in a few months. Although, these are a part of the company’s plans to expand its 5G enabled handsets’ portfolio. Samsung is currently the most popular 5G smartphone maker, thanks to its home country being one of the first to adopt the newer and faster bandwidth in the mass commercial market. So we may soon see even more affordable Galaxy smartphone with 5G networking soon, apart from the premium flagships.

(Via)

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Samsung Display expected to report a significant operating loss for first quarter of 2020

Sean — Wed, 22 Apr 2020 12:17:39 +0000

The Coronavirus pandemic is a big cause for global concern and its effects are already visible on various economies and industries. The smartphone OEMs are no exception to its ill effects either, as Huawei already reported on a sizeable loss of revenue growth earlier today (22nd April 2020). Now, Samsung Display is expected to reveal its own operating losses for the first quarter of 2020.

According to a new report, Samsung Display, the smartphone display manufacturing leader, will reportedly see a significant loss in the Q1 of 2020. For those unaware, the South Korean company makes panels for PC monitors, laptops, smartphones, and TVs. However, their operating loss is calculated to be around 378 million US Dollars, while their overall revenue during the same period is around 5 billion US Dollars.

The dominating reason for this massive loss is undoubtedly the ongoing Coronavirus pandemic. In the company’s home country, South Korea, various production lines and manufacturing sites had to be closed down. This paired with the fall in demand for smartphones and TVs during this period of crisis only further worsened the condition. Furthermore, Samsung Display recently announced that it is effectively shutting down its LCD manufacturing lines completely, which could be one of the leading areas where the company was seeing losses.

Samsung Galaxy S20 Ultra

According to an official statement, Samsung is moving over from LCD and investing in the upcoming quantum dot technology for displays. Similar to Samsung Display, the smartphone division is also facing the same predicament, with its latest flagship series launching on the onset of the global outbreak. So, it can be expected that most OEMs will incur losses for the next few months.

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Huawei sees low Revenue Growth in first quarter, Coronavirus and US Sanctions hit hard

Sean — Wed, 22 Apr 2020 08:32:13 +0000

It seems that Huawei is still unable to get a hold of stable footings. Since 2019, the Chinese tech giant has been facing various complications including a US trade ban and accusations from other governments as well. Now, the company reported on its low revenue growth, which points at the toll the ongoing Coronavirus and US sanctions have had on its operations.

Earlier today (22nd April 2020), the company revealed its revenue for the first quarter of 2020. Huawei saw revenue of 182.2 billion Yuan or roughly 25.7 billion US Dollars. In other words, a meager growth of just 1.4 percent over the same quarter in 2019. Last year the company saw a sizeable growth of 39 percent, which is clearly indicative of the hindrances it has faced in recent times.

According to Huawei, the results were “in line with expectations.” The company had refrained from revealing its bottom line/profits, the revenue in Q1 2020 has reportedly brought in a net profit margin income of just 13.4 billion Yuan (roughly 1.9 billion US dollars). Similarly, Huawei also didn’t reveal the number of handsets it shipped in the three month period either, but one can assume that the figures do not bump the numbers much higher than last year.

For those unaware, Huawei was blacklisted by the US Commerce Department in early 2019, which banned the company from buying or selling with US based companies. This saw the electronics brand to lose out on Google services for its popular Android smartphones. Recently, the US government under Trump’s administration has been planning on dealing with a decisive blow again by limiting its chip supply from TSMC, the world’s largest contract chipmaker.

In response to this, Huawei has already started moving some of its chip designs to a China based chipmaker named SMIC. Although, SMIC is currently several nodes behind TSMC, which is already readying 5nm processes and is developing and on track with its future 3nm process. The ongoing pandemic is another matter that has greatly affected production and operations. So at the moment, it seems the figures being reflected might carry over to the second quarter as well.

(Via)

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Apple Watch has outsold all Swiss Watch brands in 2019: Report

Sean — Thu, 06 Feb 2020 11:06:17 +0000

In recent years, Apple has been focusing its efforts in diversifying its electronics product offerings. One of its most popular endeavors is its Apple Watch series, which is a successful wearable lineup. Now, a report suggests that it has outsold Swiss branded watches in 2019.

According to Strategy Analytics, a researching agency, Apple’s sales estimates indicate that the Cupertino based giant has sold more watched in 2019 than all of the popular Swiss watchmakers. The figures reveal that the smartphone OEM sold 30.7 million Apple Watches last year. This figure marks a significant bump of 36 percent year on year growth over 2018.

Apple Watch

In comparison, Swiss watch brands, altogether, sold over 21.1 million units in 2019, a notable fall of 13 percent in total sales over 2018. It indicates the still growing wearables market with Apple’s smartwatch offerings being a big hit in the market. Unfortunately, since Apple doesn’t publicize exact sales numbers, the figure above has been compiled after collecting data by various vendors by Strategy Analytics.

Neil Mawston, Executive Director of Strategy Analytics, stated that “Analogue wristwatches remain popular among older consumers, but younger buyers are tipping toward smartwatches and computerized wristwear.” This implies that the youth are more likely to buy a smartwatch over a traditional wristwatch, showcasing a change in generational preference in recent years.

Apple Watch Series 5

Furthermore, another analyst from the research firm also stated that brands like Swatch, TAG Huer, and Tissot need to hurry if they wish to jump onto the smartwatch bandwagon. Again implying that the younger generations prefer digital watches over conventional analog watches. Notably, Apple’s Q1 2020 earnings for wearables and other IoT devices (internet of things) are expected to bring in 10 Billion US Dollars, a number that is higher than the revenue generated by its Mac computers.

(Source)

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LG lost over $850 million through its Mobile Division as sales fall in 2019

Sean — Fri, 31 Jan 2020 10:49:55 +0000

LG has recently revealed its financial report for the Q4 of 2019. In the final quarter, the company saw a massive loss as its mobile division continues to deteriorate in the smartphone industry.

According to the report, the South Korean tech giant saw a loss of over $850 million in Q4 of 2019 as sales of smartphones continued to decline and show little sign of recovering in the near future. LG generated KRW 1.32 trillion in revenue between October and December 2019. The figures translate to roughly 1.12 billion US Dollars, which is a sizable amount, but still noticeably lower than its revenue of 1.41 billion US Dollars in Q4 of 2018.

Furthermore, the mobile division suffered huge setbacks in the final quarter as well, measuring about KRW 332.2 million. Meaning, about 280 million US Dollars was lost during this period of time, which is also higher than the 270 million US Dollars lost in the same quarter of 2018.

Despite LG’s best efforts to reduce cost and operational expenditures, the company is still showing negative growth. Looking at the overall report for 2019, the electronics brand’s declining mobile division generated 5 billion US Dollars but experienced a large sum of 858.34 million during the same time. This also highlights LG further declining over 2018, where the company lost just 650 million US Dollars in the same quarter. From a multinational corporation’s point of view, the financial figures are terrible for any company.

LG G8X ThinQ

However, a silver lining does present itself to the company. LG, similar to Samsung, hopes that the newer and faster bandwidth, 5G network, will help improve its sales figures for 2020. As of right now, the adoption of 5G is still low and confined to a handful of countries including, South Korea and China. The former is the home country for both LG and Samsung through which both seem to benefit the most. Notably, other brands like Xiaomi are also quickly catching up in these regions and LG stated that it is expecting “severe competition” in the mid range smartphone segment.

LG said that the decline in sales of its smartphone in Q4 of 2019 is due to its stagnant sales in the overseas market, especially in the mid-range segment of smartphones. Additionally, the company attributed the higher expenditure to clearing existing inventory and the launch of new products.

(Via)

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Samsung Q4 profits slumps by 34%, hopes 5G improves current situation

Sean — Thu, 30 Jan 2020 09:26:28 +0000

Earlier this week, Samsung Electronics announced that its operating profits for Q4 of 2019 fell by 34 percent, which is within its expectations. The South Korean tech giant faces the sizeable slump in profits due to the chip market suffering from a slump and hopes 2020 proves different through 5G network advancements.

Samsung is the world’s largest smartphone manufacturer and memory chip maker and reportedly has an operating profit of 7.16 trillion won or roughly $6.13 billion. Notably, its net profit also saw a fall of 5.2 trillion won or about 38 percent and its revenue fell by 1 percent that is about 59.9 trillion won, which is again within the company’s expectations.

Samsung Memory Chips

The reason for Samsung’s year long decline was due to the falling memory chip market. In 2018, memory chips saw a sudden decline after two booming years after demand went short. Furthermore, the US-China trade disputes also impacted the company with import tariffs and more which eventually led to a massive oversupply of chips that had no market. Thus, the electronics brand is still recovering from the bow while the memory market is also slowly recovering at the same time.

Regardless of this, Samsung saw a rise in its smartphone division, which saw improved sales and “healthy” profits with the Galaxy A series of handsets. Additionally, the company is hoping that the wider adoption of 5G networking will further improve said numbers as Samsung’s offerings are widely adopting 5G variants.

Samsung Exynos 980 5G chipset

The year 2020 is expected to see 5G make a bigger impact than last year and will also slightly bump the smartphone industry as a whole. Samsung already has plans to develop integrated 5G chips and also expects its OLED displays to have higher demand alongside its new high resolution camera sensors. Although it remains to be seen, the exact pace at which the newer and faster bandwidth expands.

(Via)

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Financial Report Archives - Gizmochina

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