Recently, Samsung Electronics released its earnings guidance for the Q3 2020. The South Korean tech firm expects that its operating profit in the third quarter jumped 58% YoY.
According to its own expectations, the company has got consolidates sales of KRW 66 trillion (around $57 billion) and consolidates operating profit of KRW 12.3 trillion (around $10.63 billion). Samsung got a sales profit of KRW 52.97 trillion (around $45.9 billion) and an operating profit of KRW 8.15 trillion (around $7.06 billion) in the second quarter this year.
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Samsung gained its earnings with higher sales of smartphones, semiconductor chips, and home appliances. Though this report is only an expectation of the company, Samsung will reveal the final results at the end of this month.
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“It seems Huawei’s impact on Samsung’s chip business was bigger than the market expected, and there was a big surprise in the smartphone and home appliance businesses,” – said CW Chung, head of research at Nomura in Korea.
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