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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Apps»Samsung Heads for an All-Time Record Profit of $15.5 billion in Q3 2018
    Samsung

    Samsung Heads for an All-Time Record Profit of $15.5 billion in Q3 2018

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    By Tapiwa Matthew Mutisi on October 6, 2018 Apps, Brands, Business, Devices, Gadgets, Innovation, Investments, News, Products, Report, Review, Samsung, smartphones, Software, Technology

    After a downturn in Q2, Samsung is once again back to shattering profit records with its chip division still the star of the company.

    Samsung is on track to beat the $14.6 billion in profits it netted in Q1 2018. In its Q3 2018 earnings guidance, Samsung is forecasting an operating profit of $15.5 billion (17.5 trillion won) on the back of revenues of $57.5 billion (65 trillion won).

    That’s a 20% uptick from the $12.8 billion it recorded in profit during the same period last year, and 6% more than Q1 2018. The launch of the Note 9 wouldn’t have hurt the bottom line, but we’ll have to wait until the last week of October to get a detailed breakdown of where the profits came from.

    Samsung will reveal more details, including how each of its divisions performed, by the end of this month in its complete earnings report. According to some reports, though, the chip division is still its biggest business, thanks to strong demand from data centers for cloud computing. In addition, it’s been benefiting from a new production technology that allows the company to manufacture smaller and faster chips per silicon wafer.

    While the chip division continues to do well, it remains to be seen if the company can reach even bigger numbers in the coming months. Chip prices are plummeting, and its upcoming foldable phones might not make a huge difference for its mobile business.

    For now, it’s safe to say that Samsung’s chip business is a key growth driver — as it has been for a few quarters now.

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    Tapiwa Matthew Mutisi
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    Tapiwa Matthew Mutisi has been covering blockchain technology, intelligent technologies, cryptocurrency, cybersecurity, telecommunications technology, sustainability, autonomous vehicles, and other topics for Innovation Village since 2017. In the years since, he has published over 4,000 articles — a mix of breaking news, reviews, helpful how-tos, industry analysis, and more. | Open DM on Twitter @TapiwaMutisi

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