Quickie: Samsung Q3 results: hefty profits

By October 29, 2015News
Samsung Revenue Q3 2015

First profit since S4.

It’s that time of year when the tech heavy-weights release their profits. Apples results yesterday (28 October, 2015) indicating that it is doing as well as ever. Samsung released its results, indicating that it made 7.39 trillion Korean won ($6.42 billion) during Q3. Year-on-year it’s an increase of $2.8 billion as Q3 2014 it made just 4.1 trillion won ($3.6 billion).

Samsung said that revenue was driven mainly by its semiconductor and display panel segments.

Mobile division

Samsung mobile division posted a profit of 2.4 trillion won ($2.1 billion) in Q3 2015, a rise from 1.75 trillion ($1.54 billion) from Q2 2014. Growth was spurred mainly from strong sales of the Note 5, Galaxy A, Galaxy S6 and Galaxy Edg+.

As competition intensifies from competitors in the mid-range smartphone market Samsung expects smartphones growth rate will fall in 2016. In response to that Samsung will push its new payment service, Samsung Pay and refocus on wearables.

Samsung Investor Relations

All rights reserved Salient.