Samsung announced today that in Q3 2018 it recorded a record profit for the entire group, despite the problems with the smartphone division, the Koreans going to record a new fiscal quarter with a decrease in profit for it. However, for Q3 2018 the Samsung company announced revenues of 57.5 billion dollars for the entire group, but also a profit of 15.5 billion dollars, 12% higher than what it had recorded in the same period last year.
Samsung had an extremely good Q3 2018 thanks to the divisions that produce microchips, OLED screens for a variety of electronic products, and thanks to other divisions, except the one for smartphones. I was telling you the other day that Samsung would be recorded a decrease in the profit generated by the smartphone division in Q3 2018, and the promotion costs for the Samsung GALAXY Note 9 would have played a very important role in this negative evolution.
Samsung Announces RECORD PROFIT Despite PROBLEMS
Samsung has not yet announced in detail which of its divisions generated the most money, and the biggest increases in profit and receipts, but it will do so, and then we will be very clear about what the situation is. Samsung has experienced a substantial increase in revenues in the divisions that produce various components for electronic products, there is now a very high demand from manufacturers, but smartphone sales have been affected by serious competition from other manufacturers.
"Samsung expects to have made 17.5 trillion won ($15.5 billion) in operating profit off 65 trillion won ($57.5 billion) in revenue in the third quarter of 2018, a 20 percent increase year on year and nearly 12 percent higher than the company's previous record of 15.64 million won from the first quarter of this year."
Samsung is still a very large group, and the evolution of revenue and profit so far suggests that a very good period is ahead for the Koreans in Q4 2018 as well, but why not in 2019 as well. Apple will still need OLED screens, Samsung can bring new customers for the components of electronic products, and if it also produces good smartphones, then it will only have increases in revenue and profit at the level of the entire group.