Samsung Q3 2013: $9.56 Billion In Profit, Over $55.55 Billion Revenues
Samsung Electronics was expecting their Q3 2013 to be huge and it was! Samsung announced 59.08 trillion won (around $55.59 billion) in revenues. Their consolidated operating profit was 10.16 trillion won (around $9.56 billion). These numbers are over Samsung’s guidance and are new highs for Samsung. The operating profit was at 7% higher than the previous quarter. It is up 26% from the same period last year.
Samsung CEO JK Shin recently said that 40 million Galaxy S4 smartphones were sold in the first 6 months. Samsung said that they saw an increase in smartphone shipments of around 10%, which is higher than the 9% that analysts were expecting.
Samsung’s IT & Mobile Communications revenue increase by 3%. Samsung’s semiconductor business saw the largest growth for the quarter with sales of memory for mobile devices and gaming consoles increasing 12% from the previous quarter. Samsung’s roughest division was their display panel business with operating profits dropping 12%.
[Source: The Verge]