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Samsung Soars To Record Highs, Foldables Contributed

Looking at both LG and Samsung’s robust third-quarterly earnings today, you’d never guess there was a worldwide components shortage, or supply chain issues hampering the entire industry.

Like LG Electronics, South Korea’s top tech company Samsung has logged its largest-ever quarterly earnings during the September quarter, with its latest range of foldables and its own chip division being its twin saviours.

Samsung posted A$83.81 billion in sales, and A$17.9 billion in operating profit during the quarter.

The company’s semiconductor division accounted for 64 per cent of total operating profit, with a massive A$29.9 billion in sales, and A$11.9 billion in operating profits.

The launch of Galaxy Z Fold3 and Z Flip3 models brought in $A32.2 billion in sales with A$3.8 billion in operating profits.

Samsung declined to offer future guidance, due to the unsteady nature of the market.

“Risks the from demand-side are likely to continue, but as IT companies continue increasing their investments, overall demand for memory products will be steady,” a Samsung official explained.

“As customers have different views of the memory market, the difficulty level of price negotiations is increasing,” said Han Jin-man, executive vice president at Samsung.

 

 

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