The Korean tech giant, Samsung stated that it would publicize its first quarter profit in two years. The profit is reported to be above their expectations with huge sales of chips and displays, which overpowered the weak aspects of its smartphone category.
Samsung assumed its July-September profit to reach 79.8 percent from a year earlier to (South Korean Won) SKW 7.3 trillion (nearly Rs. 41,099 crores) as compared with SKW 6.7 trillion profit proposed by a Thomson Reuters SmartEstimate poll of 30 analysts.
IBK Securities analyst Lee Seung-woo stated that "There were worries that overall earnings will continue falling as mobile profits declined, but now the numbers make the case that Samsung has the capacity to withstand weakness from the mobile business".
Samsung claims to achieve a gain of 6.3 percent as of 0239 GMT, along with a 0.5 percent gain in the global market. In all its sub-categories, its semiconductor section is retained at the top with the maximum profit provider for the fifth quarter. On the other hand, its Display earning gain a boost by delivering the products to other clients like Huawei Technologies Co Ltd.
Talking about the mobile market, the company earnings have improved a bit. The credit goes to two of its Galaxy flagship smartphones, Galaxy Edge and Edge Plus along with the launch of the premium edition of Samsung Galaxy Note 5. But throughout this tenure, Apple, Xiaomi (Chinese Apple) remains its top rivals.
Adding more for mobile segment, HDC Asset Management fund manager Park Jung-hoon stated that the fourth quarter operating profit would probably be moderate because of the higher smartphone marketing bills prior to the year-end holidays.
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