Samsung Electronics posts file quarterly revenue

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Samsung Electronics has posted its greatest quarterly revenue ever, pushed by greater reminiscence chip costs and a restoration in smartphone gross sales.

The agency’s internet revenue for the July to September quarter hit 11.2 trillion received ($10bn; £7.6bn).

The consequence almost tripled earnings reported in the identical interval a 12 months earlier.

It comes weeks after chief govt Kwon Oh-hyun resigned from the agency, citing an “unprecedented disaster”.

On the time, Mr Kwon stated the corporate’s present profitability was “merely a fruit of selections and funding made up to now”.

His resignation got here days after Samsung group’s inheritor obvious Lee Jae-yong started an enchantment in opposition to his conviction and 5 12 months jail sentence for bribery and corruption, stemming from funds to the key confidante of South Korea’s ousted president Park Geun-Hye.

Samsung Electronics is thought to be the jewel within the crown of the Samsung conglomerate, which is made up of 60 interlinked firms.

File consequence

Samsung Electronics described its newest quarterly consequence as a “strong efficiency” total.

The world’s greatest reminiscence chip and smartphone maker expects robust demand for its merchandise to proceed, placing it on observe for a file annual revenue.

It should additionally pay round $26bn in dividends to shareholders over the following three years.

Whereas reminiscence chips have been the principle driver of Samsung’s earnings, its cell phone enterprise was given a lift by its new Observe eight smartphone which acquired the agency’s highest variety of pre-orders.

It marks a big turnaround for the agency which was hit badly by the worldwide recall of its flagship Observe 7 smartphone in 2016, following the fiasco with its overheating and exploding batteries.


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