[Featured Stock] Samsung Electronics Rises for Second Day on News of 8 Trillion KRW 5G Contract

[Asia Economy Reporter Minwoo Lee] Samsung Electronics' stock price has been on the rise for two consecutive days. The news of an 8 trillion won 5G equipment contract still appears to be a positive factor.

As of 11:09 AM on the 10th, Samsung Electronics' stock price recorded 58,400 won, up 3.36% from the previous day. This is more than a 5% increase compared to the closing price on the 4th. Following a 1.62% rise the previous day, the stock price has been climbing for two consecutive days.

The large-scale 5G network equipment supply contract announced the day before seems to have acted as a positive catalyst. Samsung Electronics disclosed on the 7th that it signed a long-term network equipment supply contract worth 7.9 trillion won with Verizon, the world's number one telecommunications operator by mobile communication revenue. This contract is the largest single export contract in the history of Korea's telecommunications equipment industry. It accounts for 10% of Samsung Electronics' consolidated total assets.

Expectations for third-quarter earnings also played a role. Securities firms are forecasting that operating profit will surpass 10 trillion won in the third quarter due to the recovery in sales of smartphones, TVs, and home appliances. An operating profit of 10 trillion won would be the first in two years since the fourth quarter of 2018.

This content was produced with the assistance of AI translation services.