Samsung officially announced its third quarter financial results. The data reveals worrying trends and a sharp decline in the company’s operating profit for the period.
Samsung registered a large sales of smartphones, but the big problem is the insufficient supply of semiconductors that are crucial to their business. The Korean giant reported operating profit of $ 6.6 billion in June-September.
In fact, this is 56% less than their results from the previous year. Samsung also has to deal with revenue drop of 5.3%, reaching $ 53 billion. However, analysts expect the situation to improve this quarter, especially since the December season, when consumers are very active. Samsung’s performance in the third quarter met expectations of market watchers.
It is important to clarify that the third quarter of 2018. was the best in Samsung’s history so far, reports CNet. This factor is one of the reasons for the decrease in operating profit and income of the company.
Samsung continues to report big sales of Galaxy Note and Samsung Galaxy A. Thanks to them, their mobile division grew 17% in revenue over the previous year.
Samsung reported a 56% profit decline in the third quarter of 2019
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