Technobezz

Samsung Records Higher Profits in Third Quarter on Increased Galaxy Note 10 Sales

It is not as if Apple alone is enjoying better iPhone sales these days. The South Korean giant Samsung has been able to sell its latest launch, the Samsung Galaxy Note 10 smartphone in large numbers. This has resulted in the company expecting better financial figures for the July-September quarter than what it had anticipated. The company is likely to declare profits, which is higher than the 7.7 trillion won ($6.44 billion) that the company had estimated and informed the regulatory authorities. Independent estimates had also held that the profits of the company will fall close to 7 million won.

Higher Sales of the Samsung Galaxy Note 10

Whatever the underlying reasons are for Samsung being able to generate higher sales of its Galaxy Note 10, the phablet certainly beat market expectations. Some attribute it to the problem that the Chinese phone brand Huawei is facing right now. The company has been releasing its phones in the European markets without Google-based apps like Maps, Gmail and YouTube. The operating system, Google’s Android, is not available to Huawei in licensed form. This could have given the South Korean company some edge. The US market was in any case available to Samsung even earlier.

Apart from the Samsung Galaxy Note 10, the company claims it sold 1 million pieces of its 5G phone in its home country alone.

Samsung business

Samsung’s Chipsets Not Doing So Well

The gains in the sales of smartphones have not resulted in the company’s profitability when taken on a company-wide basis. Historically, Samsung’s profits have been largely contributed by its semiconductor business. If the company were to clock equal revenue from smartphones and the chipsets, the profits from the latter would be much higher than that earned through smartphone sales. Samsung has dropped its sale of chipsets.

Ironically, the same Huawei Technologies could be the reason behind the manufacturer’s woes as the Chinese major was drawing most of its requirements of chipsets from Samsung. With the trade stand-off between China and the US, Huawei has had to cut down on its purchases of chips. Apart from Huawei, there are reports of data centers scaling down their purchases of chipsets.

However, it may not be all bad news for Samsung as the projections from experts are that the trends may reverse as the rest of the year progresses. The picture will be clearer once the actual numbers for the last quarter are officially released by Samsung soon.

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