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By Kang Jin-kyu SEOUL, Oct 31, 2023 (AFP) – South Korea’s Samsung Electronics said Tuesday that its operating profits for the July to September period were down nearly 80 percent, but forecast that a prolonged slump in the memory chip market was coming to an end. The firm is the flagship subsidiary of Samsung Group, by far the largest of the family-controlled conglomerates that dominate business in Asia’s fourth-largest economy. Samsung announced third-quarter operating profits […]
SEOUL, South Korea (AFP) — Samsung Electronics on Tuesday flagged its first quarterly profit drop in two years, painting a grim outlook amid mounting competition from Chinese smartphone makers and declining chip prices. The South Korean tech giant — the world’s top maker of smartphones and memory chips — has enjoyed record profits in recent years despite a series of setbacks, including a humiliating recall and the jailing of its de facto chief. But operating […]
SEOUL, South Korea (AFP) — South Korean telecoms giant Samsung Electronics saw net profits leap by more than half in the first quarter, it said Thursday, thanks to strong demand for memory chips and its latest high-end smartphone. The firm, the world’s biggest maker of memory chips and the flagship subsidiary of the sprawling Samsung group, has recovered from a series of setbacks to post record profits in recent quarters. It faced an embarrassing global […]
SEOUL, South Korea (AFP) — Samsung Electronics flagged Friday a first-quarter operating profit of 15.6 trillion won ($14.7 billion), a record for any three-month period, as it benefited from soaring demand for its memory chips for mobile devices. Sales for January to March are expected to reach 60 trillion won, the world’s largest maker of smartphones and memory chips said in an earnings forecast. The profit forecast from Samsung Electronics — the flagship subsidiary of […]
SEOUL, South Korea (AFP) — Samsung Electronics reported a 73 percent jump in its fourth-quarter net profit on Wednesday, setting a record for any three-month period, mainly driven by demand for its memory chips and display panels. Net profit for the October to December period rose to 12.26 trillion won ($11.4 billion), up from 7.09 trillion won a year earlier, the South Korean tech giant said in a statement. Samsung Electronics, the flagship subsidiary of […]
by Jung Ha-Won Agence France-Presse SEOUL, South Korea (AFP) — South Korean tech giant Samsung Electronics logged a record profit of 11.2 trillion won — $10.0 billion — in the July to September period, it said Tuesday, its best for any quarter. The world’s biggest memory chip and smartphone maker has had its de facto leader jailed for bribery and faced a recall of its flagship Galaxy Note 7 device. But its net profits soared […]
Samsung Electronics said Friday it expected profits to hit an all-time high in the third quarter, as booming semiconductor sales boost the South Korean IT giant. The company estimated operating profits of 14.5 trillion won ($12.8 billion) in the July-September period, a record for quarterly profit and nearly three times the 5.2 trillion won earned a year earlier. Sales are expected to have surged 29.65 percent on-year to 62 trillion won. Samsung did not announce […]
SEOUL, South Korea (AFP) — Samsung Electronics responded warily Thursday to a plan submitted by the US activist hedge fund Elliott Management for splitting the South Korean electronics giant into a separate holding and operating company. “We will carefully review the shareholders’ proposals,” the technology conglomerate said in a terse one-line statement, with its spokesmen declining any further comment. Entities controlled by Elliott, the hedge fund run by billionaire Paul Singer, own about 0.62 percent of […]
SEOUL, South Korea (AFP) — Solid sales of its flagship smartphone and an aggressive cost-cutting drive saw Samsung Electronics on Thursday post a better-than-expected gain in net profit for the second quarter. The giant South Korean conglomerate said its key mobile division enjoyed “substantial earnings improvement” in the April-June period led by expanded sales of its high-end Galaxy S7 and S7 Edge phones. Industry trackers estimate that the world’s largest smartphone maker has sold about […]
SEOUL, South Korea (AFP) — Samsung Electronics, the world’s largest smartphone maker, reported a better-than-expected jump in net profits Thursday, boosted by the successful early release of its new flagship Galaxy handset. The result will encourage shareholders after a disappointing 2015 that saw Samsung lose more than $8.0 billion in market value, with its smartphone business sandwiched by top-end rivals like Apple’s iPhone and lower-end devices from fast-growing Chinese outfits like Huawei and Xiaomi. In […]
