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Samsung Q3 revenue rises by 58%

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Samsung Electronics has posted an working revenue of 12.three trillion received and gross sales of 66 trillion received within the third quarter, the corporate stated in its preliminary steerage issued on Thursday.

It is a rise of 58% in working revenue from the identical time interval a 12 months in the past, whereas gross sales rose barely 12 months over 12 months.

It beats South Korean analysts’ consensus of 10.26 trillion received. It is usually the corporate’s finest efficiency because the third quarter of 2018.

Samsung’s three major companies — smartphones, client electronics, and semiconductors — are all anticipated to have had strong performances throughout the quarter.

The corporate’s smartphone operation, particularly, is anticipated to have benefitted from the launch of the Galaxy Word 20 collection and strong gross sales from its mid-tier Galaxy A collection.

Samsung’s TVs and residential home equipment are additionally anticipated to put up robust gross sales figures resulting from pent-up demand, with varied main economies enjoyable their lockdown measures in opposition to the COVID-19 pandemic throughout the quarter.

Each the smartphone and client electronics companies are anticipated to have saved prices in offline advertising as a result of pandemic.

For Samsung’s semiconductor enterprise, reminiscence merchandise are anticipated to have strong gross sales from server demand, whereas the logic chip enterprise doubtless benefited from its clients launching new chips.

The show unit can be anticipated to show a revenue as a result of launch of latest smartphones from shoppers within the third quarter.

The complete earnings can be introduced on the finish of the month.

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