Samsung Electronics Posts Record Quarterly Revenue of 67 Trillion Won in Q3 (Update)

[Asia Economy Reporter Dongwoo Lee] Samsung Electronics' third-quarter sales reached 67 trillion won, achieving the highest quarterly performance in history.

Smartphone and home appliance performance improved due to pent-up demand caused by the novel coronavirus disease (COVID-19). The semiconductor sector also benefited positively from the U.S. sanctions against China's Huawei.

Samsung Electronics announced on the 29th that its consolidated third-quarter results showed sales of 66.9642 trillion won and operating profit of 12.3533 trillion won, increases of 8.0% and 58.8% respectively compared to the same period last year.

Sales surpassed the previous quarterly record of 65.98 trillion won set in 2017, and operating profit exceeding 10 trillion won occurred for the first time in seven quarters since the fourth quarter of 2018 (10.8 trillion won).

By division, the mobile (IM) division recorded an operating profit of 4.45 trillion won, the home appliance (CE) division 1.56 trillion won, semiconductors 5.54 trillion won, and displays 470 billion won.

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