Samsung releases quarterly sales report
The past week has been one for the business arm of the smartphone industry, with numerous OEMs and firms releasing data on the commercial side of the market, from the last quarter. Samsung is the next to do so, as the company, in a press release yesterday, posted its Q3 results.
The Korean giants recorded an impressive US$13 billion operating profit, up 179% from last year, and the company's all-time highest—which was credited to its booming sub-divisions. Annual revenue sits at US$55.6 billion, a US$12.75 billion year-on-year increase.
Keeping in line with the company's growth, its smartphone division recorded an unspecified increment in shipment numbers, but revenue and earnings of the Mobile Communication and Network Businesses division, in general, saw a slight decline this quarter, and an 18.9% YoY drop—a phenomenon the company chalks up to its focus on lower-tiered devices and the slimmer profit margins they offer.
2018 in mind, the company expects a growth in sales of its flexible OLED panels and memory modules.
You can find the detailed report here.
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