profishingrods.com
profishingrods.com October 19, 2017


Samsung Elec says Q3 operating profit likely almost tripled from yr ago

13 October 2017, 06:04 | Joann Bryant

Samsung Electronics' Galaxy Note 8 are seen on display at its store in Seoul South Korea

Samsung Electronics' Galaxy Note 8 are seen on display at its store in Seoul South Korea

The technology giant estimated operating profit for the third-quarter nearly tripled to 14.50 trillion Korean won or $12.8 billion from 5.20 trillion won previous year.

Analysts estimated 14.3 trillion won in operating profit according to financial data provider FactSet.

Samsung Electronics says its third-quarter profit likely surged almost three-fold over a year earlier to a new record high.

Both shipments and prices of the company's main products - DRAM and NAND memory chips - have been increasing over the past several months, he said.

The company is set to release its final earnings report later this month.

Its information and mobile sector is estimated to have brought in three trillion won operating profit and the display business one trillion won.

Samsung raked in 8.03 trillion won from the chip business in the April-June period in operating profit, along with 4.06 trillion won from the mobile arm.




Kwon, 64, has served as a vice chairman at Samsung Electronics since 2012.

The chairman of Samsung Electronics' board of directors and one of the company's three chief executive officers says he will resign next year. Analysts have tipped its chip division to propel the firm to record overall profit.

The consumer electronics division will also benefit from strong seasonal demand, he added.

Industry watchers, meanwhile, said the absence of Samsung's top leaders cast a cloud over the company's long-term strategy. Lee was sentenced to five years in prison after being convicted in August of bribing South Korea's former president to help him increase his power over the company.

His ailing father Lee Kun-hee has been hospitalized since 2014, and is now unable to participate in the company's management.

The rising presence of Chinese rivals coupled with USA trade protectionism headed by President Donald Trump are also major hurdles, they added. Samsung announced its earnings guidance before the market opened Friday.



Other News

Trending Now

Rohr Insists On Strong Super Eagles Squad Vs Algeria
Idowu plays for Russian side Amkar Perm, and even though he qualifies to represent Russia, he was interested in switching allegiance to Nigeria before their first game against Algeria.

Fortnite's battle royale mode hits 10m players in two weeks
In response, he allegedly registered several other accounts with different names to continue playing Fortnite and stream-sniping. The pair have been linked to a cheat provider, acting as moderators on a site that assists players in using exploits.

ESRB Does Not Consider Loot Boxes to Be Gambling
Conversely, there are others who don't have an issue with loot boxes so long as they do not impact the core gaming experience. While some might like the idea of unlocking random stuff, it's a pain in the neck for those looking for one specific item.

Supporting Eminem Fans Are Not Happy With His Savage BET Cypher
Eminem rebuked Trump for his strong criticism of National Football League players who kneel during the national anthem before games.

Samsung releases limited edition robotic vacuum cleaner that looks like Darth Vader
For example, when powering on the Darth Vader unit, the vacuum will play and mimic the character's infamous breathing. Other various fan-centric activations and rewards with retail and commerce partners will continue rolling out.

Delhi CM Arvind Kejriwal's Maruti Suzuki WagonR Stolen
A blue colour Wagon R owned by Chief Minister Arvind Kejriwal was stolen from outside Delhi secretariat on Thursday afternoon. Complaint has been registered at IP Estate police station and investigation into the case has been started".

Scattered showers tonight; partly cloudy, cooler Thursday
After the cold front moves out cooler temperatures settle in with temperatures not differentiating too much from morning lows. Showers will be scattered around the area as we head into tonight , but it won't be anything very heavy or consistent.

Ezekiel Elliott's 6-Game Suspension Back On ... For Now
In the most prominent, the Tom Brady "Deflategate" case, Brady secured an injunction, allowing him to play the entire 2015 season. This recommendation was not passed on to Goodell and, according to the suit, hindered the commissioner's ability to do his job.

Smoking ban planned at 20 popular beaches
This comes after a travel agent warned tourists not to vape in Thailand as they could face up to 10 years in prison. Thailand is banning smoking on numerous beaches across the country, including in tourist hotspot Phuket .

Germany: "No evidence" Kaspersky software used by Russians for hacks
Eugene Kaspersky, the company's co-founder and chief executive, has repeatedly denied charges his company conducts espionage on behalf of the Russian government.