Samsung has announced its financial results for the third quarter of 2019, the company has revealed that it had sales of 62 trillion KRW and an operating profit of 7.78 trillion KRW.
The companies profit fell around 56 percent on the previous year but was up from the previous quarter.
Earnings from the Memory Business slumped significantly year-on-year as memory chip prices continued its downward trend amid the industry-wide weakness since the end of 2018. The logic chip business saw demand rise for image sensors and display driver ICs (DDIs), but also suffered from price declines in mobile application processors (APs).
In the Mobile Business, strong sales of the Galaxy Note 10 and A series boosted profit, along with improved margins for mass-market models. The business also expanded its 5G product offerings and launched the Galaxy Fold, demonstrating Samsung’s technology leadership. Meanwhile, the Network Business reported higher earnings YoY on growing commercialization of 5G service in Korea.
You can find out more details about Samsung’s latest financial results over at their website at the link below.