Samsungs Q3 operating profit up 20.4 pct to hit record high

By Lim Chang-won Posted : October 5, 2018, 10:11 Updated : October 5, 2018, 10:11

[Iclickart]


SEOUL -- The operating profit of Samsung Electronics was projected to hit a record high in the third quarter of this year, helped by a good performance in its semiconductor business which has seen robust shipments on strong demand for dynamic random-access memory (DRAM) chips and NAND flash products.

In a regulatory filing on Friday, Samsung said its third-quarter operating profit was up 20.4 percent on-year to 17.5 trillion won ($15.7 billion). The previous record was 15.6 trillion won set in the first quarter of 2018. Third-quarter sales were up 4.75 percent on-year to 65 trillion won.

There have been predictions among market watchers that Samsung's earnings would slow down in the fourth quarter as DRAM and NAND flash prices are expected to decline.

South Korea has envisaged a concerted state project to enhance the competitiveness of its microchip industry, citing a strong challenge from Chinese companies. Samsung, the world's largest microchip producers, has warned that competition with Chinese companies would get fierce, calling for pre-emptive measures to widen a gap between them.

On Thursday, SK hynix, a unit of South Korea's SK group, opened its new M15 production line for NAND flash products in Cheongju. "With world-class technological innovation, we will firmly maintain the competitiveness of South Korea's semiconductor industry," SK Group Chairman Chey Tae-won said, calling for an active investment to secure "technology leadership."
기사 이미지 확대 보기
닫기