Samsung Faces 61% Y/Y Drop in Q319 OP
October 07, 2019
According to FnGuide, Samsung is expected to post 6.9 trillion won ($5.8 billion) in third-quarter operating profit, compared with a profit of 17.5 trillion won a year ago.
Since last year, Samsung has been grappling with the semiconductor industry's downturn amid slowing demand for smartphones and other electronic gadgets.
Samsung has expressed hopes that prices of NAND, mostly used in mobile devices, will pick up in the third quarter, given a stabilizing inventory level and rising demand in the second quarter. For computer memory chips, Samsung anticipated demand recovery in the third quarter as data centers resumed purchasing server DRAM in the late second quarter, but it cautioned there would be more volatility in the market in the wake of global trade tension. In July, Samsung reported second-quarter net profit of 5.18 trillion won, down 53.1 percent from a year earlier, due to due to weak memory chip prices and a slump in the mobile business. Its operating profit plunged 55.6 percent on-year to 6.59 trillion won for the second quarter. (Yonhap)