Samsung Electro-Mechanics Q3 Operating Profit 184 Billion KRW... 41% Decrease YoY
Samsung Electro-Mechanics announced on the 26th that it recorded sales of 2.3609 trillion KRW and an operating profit of 184 billion KRW on a consolidated basis for the third quarter of this year.
Sales increased by 140.4 billion KRW (6%) compared to the previous quarter, but operating profit decreased by 21 billion KRW (10%). Compared to the same period last year, sales decreased by 22.8 billion KRW (1%) and operating profit by 127 billion KRW (41%).
Samsung Electro-Mechanics explained, "Due to the effect of major clients launching new smartphone models, we expanded the supply of high-value-added MLCCs and high-performance camera modules such as folded zoom, resulting in increased sales compared to the previous quarter. However, operating profit declined due to the weak yen situation and intensified competition among suppliers."
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Although a decline in sales of some products is expected in the fourth quarter due to reduced demand for components, demand for high-performance products used in automotive electronics is expected to continue growing. A Samsung Electro-Mechanics official stated, "We plan to strengthen product competitiveness and lineup focusing on high-value-added products such as automotive and industrial applications."
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