Samsung posted its financial results for 3rd quarter of 2019 that shows a downward plunge in the memory chip business following a global recession, year-on-year and declining sales of Samsung TVs owing to competitive prices from Chinese’s rival.
On the other hand, Samsung smartphones and its displays have performed quite well in the same period that ended on September 30th.
Overall, Samsung made $53 billion in revenue and $6.71 billion operating profit, which fell by 56% year-on-year basis.
In its 3rd quarter report, Samsung highlights that its smartphones, particularly, the latest Galaxy Note 10 performed well in contrast to Note 9 last year. In addition, the A series has also greatly contributed to the performance of the mobile division.
However, we do not have individual numbers of phones as Samsung’s financial reports usually don’t go to that length.
Samsung’s mobile business posted a $25 billion revenue and a $2.5 billion profit, up 17% and 32% respectively.
Although, the mobile business has remained under tremendous pressure in recent years, but the Huawei technologies’ woes have provided Samsung a reasonable gap to fill in the global market.
The quarterly report further highlights that Samsung’s display business went up reasonably with a 6.4% rise in profit to offset the overall downfall where in-demand iPhone 11 has also contributed towards the growth of advanced displays.
Although, Samsung forecasts lower sales of smartphones in the fourth quarter, but it is expecting a boost from Samsung Galaxy Fold and 5G enabled devices in the year 2020. It is equally banking on the premium and energy-efficient displays for the 5G devices that are extremely resources hungry in nature.
Samsung also reports that its network business based on the 5G technology has turned out to be a success at home, and it plans to expand the operations in United States and Japan in the coming years.