Semiconductors and Phones Soared... Samsung Electronics Surpasses 70 Trillion Won in Q3 Sales for the First Time (Update)

[Asia Economy Reporter Kim Heung-soon] Samsung Electronics has recorded quarterly sales exceeding 70 trillion won for the first time ever, leveraging the semiconductor boom and the success of its smartphones.

Samsung Electronics announced on the 8th that its preliminary consolidated sales for the third quarter of this year reached 73 trillion won, with an operating profit of 15.8 trillion won. Sales rose 9.02% compared to the same period last year, surpassing 70 trillion won in a single quarter for the first time in history. The previous record was 67 trillion won in the third quarter of last year. Operating profit increased by 27.94% year-on-year, marking the second-best performance ever following the third quarter of 2018 (17.57 trillion won).

Although Samsung Electronics did not disclose performance by business division on this day, securities firms estimate that the semiconductor division alone posted an operating profit of around 10 trillion won in the third quarter. This was the result of memory semiconductor contract prices peaking in the third quarter, boosted by the COVID-19 special demand. The IM division, responsible for the smartphone business, is also believed to have contributed to increased sales thanks to strong sales of foldable phones such as the Galaxy Z Fold3 and Z Flip3.

Meanwhile, Samsung Electronics has been providing quarterly earnings forecasts since July 2009, the first among domestic companies. The preliminary results announced on this day are estimates based on the Korean International Financial Reporting Standards (IFRS) and are provided to assist investors.

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