Samsung Electronics reported third-quarter earnings, which are sharply declining year-on-year due to the continued slow performance in the global memory chip market, which was the company's biggest profit driver. In other areas, however, Samsung is doing quite well.
Overall, the company generated 62 trillion earned (~ $ 53 billion) in revenue and 7.78 trillion earned (~ $ 6.71 billion) in operating profit, a year-on-year decline of 5 and 56 percent, respectively. But the mobile business alone reported revenue of 29.25 trillion earned (~ $ 25 billion), up 17 percent, with profits rising 32 percent to 2.92 trillion earned (~ $ 2.5 billion). Profits are also increasing slightly in the display panel business.
Samsung says that the improved revenue from mobile devices is due to the strong sales of Galaxy Note 1
In 2020, Samsung expects 5G and folding phones to further contribute to its end result. Until memory demand picks up, but it is far from certain it will be – the days of a company that regularly releases record profits every quarter are unlikely to return.