South Korean electronics giant Samsung has had a record-breaking turnover and profit this past quarter, but analysts believe the world’s largest smartphone, television and memory chip manufacturer may do even better.
7 billion euro profit
The third quarter of 2013 delivered anoperational profit of 10.1 trillion won (nearly 7 billion euro), a 25 percent increase compared to the same period in 2012 and 6 percent more than this year’s second quarter, which was also a record-breaking quarter.
Turnover in the third quarter rose 13 % to 59 trillion won (nearly 40 billion euro) as prices for memory chips and semi-conductors are at their highest point in three years, benefiting Samsung hugely. The past few years’ heavy investments and a fire at SK Hynix, the second largest chip producer worldwide, meant Samsung had a remarkable turnover.
The slower growth of Samsung’s more expensive products was compensated by the elevated demand for cheap phones in Asia. Thomson Reuters predicts Samsung will finish its fiscal year with profits of 38.5 trillion won (26 billion euro), which means it would outperform 2012 by a third, despite that year registering a record profit already.