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Samsung set for boom this quarter

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Samsung set for boom this quarter

Samsung's quarterly profit for July to September rose by 79.8%, marking the tech giant's first year-on-year quarterly growth in over two years.

Samsung revealed the headline figure before it releases detailed numbers at the end of October.

Specific sales figures for smartphones are yet to be announced, but analysts consulted by Bloomberg forecast that the operating profit from the struggling division is likely to be up by around 24%.

This was thanks to the launch of the Galaxy Note 5 and well reviewed Galaxy S6 Edge, as well as the release of a slew of cheaper smartphones in emerging markets.

The same analysts suggested that sales of the Galaxy S6 had ‘dropped significantly’, however, suggesting Samsung’s long-term struggles are not over yet.

Its overall smartphone sales are believed to be around 81 million, with price cuts helping boost numbers.

Profit growth is being put down to a weaker Korean won and the continuing boom in Samsung’s semiconductor business.

The latter is booming thanks in no small part to Apple, which uses the company’s internal components in its iPhones.

Sales of its display tech to mobile-maker Huawei are also believed to have contributed to Samsung's upturn in fortunes.

Source:

Bloomberg

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