Samsung Electronics announced on October 13 that the Korean electronic and IT giant posted 62 trillion won (US$55 billion) in sales and 14.5 trillion won (US$13 billion) in operating profit through a preliminary third-quarter earnings announcement.
Sales rose 29.65 percent and operating profit 178.85 percent from the same period of last year. The company renewed the quarterly record set in the second quarter in one quarter. The sales and operating profit figures are an earnings surprise as they eclipsed a consensus in the securities industry that expected 61.861 trillion won in sales and 14.349 trillion won (US$12 billion) in operating profit.
When announcing estimated figures, Samsung Electronics did not disclose detailed results by business divisions. In the securities sector, it is said that the DS Division in charge of semiconductors and displays enjoyed soaring sales and operating profit thanks to a huge semiconductor boom and the spread of flexible OLEDs (organic light emitting diodes).
The market expects that the IM Division, which expanded sales territories for the Galaxy Note 8 and stronger sales of low-priced smartphones posted 3 trillion won (US$2.7 billion) in operating profit. It is forecast that the CE Division responsible for home appliances, avoided recording operating loss even during the off-season.
At the end of this month, Samsung Electronics will disclose actual results and details by divisions and will hold a conference call about the results.