Samsung profit grows again | RetailDetail

Samsung profit grows again

Samsung profit grows again

For the first time in two years, Samsung has managed higher quarterly profit again, thanks to excellent chip sales. Samsung's smartphone division struggled once more.

Competition from Chinese manufacturers

The Korean technology company's turnover grew 7.5 % to 51 trillion won (39 billion euro), but the majority of that turnover increase is thanks to the won's weak position, as Samsung sells most of its products in dollars.

 

The company's operational profit reached 7.3 trillion won (5.5 billion euro) in the third quarter, up an astonishing 78 % compared to a year ago. Samsung is still struggling in the smartphone market, because of intense competition from Apple and the arrival of Chinese manufacturers. Strong chip and screen sales have helped reach positive results.

 

New technology at its factories, which have helped increase chip production, meant that Samsung did not have to acquire as many chips from other suppliers, like Qualcomm. Instead, it managed to insert its own chips into its smartphones.

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