Apple helps Samsung surge to record profits

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Hong Kong (CNN Business)Samsung is powering towards record earnings thanks in part to Apple’s brand-new iPhones.

The South Korean electronic devices maker stated Friday it anticipates to draw in as much as 17.6 trillion won ($15.6 billion) in operating revenue for the 3 months ended in September. That’s a dive of more than 20% from the very same duration a year previously and Samsung’s greatest quarterly revenues ever.
The business didn’t supply a comprehensive breakdown of outcomes yet, however experts are all set to complete the blanks. The bumper revenue haul was most likely driven by strong sales in memory chips and greater revenues in Samsung’s screen and customer electronic devices company, according to SK Kim, an expert with financial investment bank Daiwa Capital Markets.

    There are doubts about for how long Samsung’s earnings can keep striking brand-new highs.
    Analysts have actually been cautioning about slowing need and a subsequent drop in rates for some memory chips, business that drove a year-long streak of record earnings at Samsung .
    And regardless of the hit incomes Samsung anticipated Friday, experts anticipate the business to report frustrating smart device sales for the 3rd quarter, in spite of the release of a brand-new flagship gadget, the Galaxy Note 9 , in August.
    Samsung, the world’s biggest mobile phone maker, is suffering “a downturn in numerous markets” compared to the exact same quarter in 2015, stated TuanAnh Nguyen, an expert at research study company Canalys.
    Competition from Apple and Huawei’s brand-new flagship phones indicate Samsung deals with “remarkable obstacles to stay strong” in the high-end market, he included.
    Samsung will report complete outcomes at the end of this month.
    Beyond mobile phones and memory chips, another factor Samsung’s incomes were so hot last quarter was due to the fact that South Korea was so hot — actually.

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