Samsung Q3 earnings rise 26% to a new record, in part from stronger smartphone sales
For the quarter, the company earned a record 8.24 trillion won ($7.76 billion USD) vs. the previous year's 6.56 trillion won ($6.2 billion USD). Revenue rose 13.2% to 59 trillion won ($55.5 billion USD). The previous record for net profit was the 7.77 trillion yen ($7.24 billion USD) scored by Samsung in the second quarter. Growth in operating profit dropped by nearly half sequentially from 47.5% in the second quarter to 26% in the third quarter. While profit in the mobile sector slowed, it still made up 66% of Samsung's operating profits.
Samsung has 50 trillion won ($47 billion USD) in cash, some of which it is using for acquisitions. Like Apple with its $147 billion cash hoard, Samsung is going to have to decide what to do with its pile of money.
1. PapaSmurf (Posts: 4138; Member since: 14 May 2012)
Holy mother of God that's a lot of money.
5. AwesomestMaximuss (Posts: 78; Member since: 09 Jul 2013)
And thats just the mobile department of Samsung..
15. Napalm_3nema (Posts: 434; Member since: 14 Jun 2013)
That's all of Samsung Electronics. The mobile division's growth was minor, but still strong profits. The semiconductor arm doubled their business.
2. kryme (Posts: 14; Member since: 24 Oct 2013)
and yall think samsung is doing something bad?????
4. PapaSmurf (Posts: 4138; Member since: 14 May 2012)
Obviously they're doing something right if they earned that much in one quarter. Haters are always going to hate.
3. gigaraga (Posts: 100; Member since: 29 Mar 2013)
Go Samsung!~ Probably richer than all the other 'Android' phone makers. They don't stand a chance.
6. PapaSmurf (Posts: 4138; Member since: 14 May 2012)
Samsung's earnings = HTC's, Sony's, Motorola's, and LG's earnings combined
17. wicpromd (Posts: 242; Member since: 20 Aug 2013)
Including 'Nokia' too
How can someone forget one of the biggest 'Loser' Brand :D
14. SAYED-EJAZ (Posts: 162; Member since: 10 Oct 2013)
Other OEMs can only withstand and see samsungs power ..!
11. PapaSmurf (Posts: 4138; Member since: 14 May 2012)
Nope. They'll find ways to 'prove' that Samsung is the worst and they 'copy' every OEM.
19. kostas12ldb (Posts: 41; Member since: 18 Feb 2013)
The fact that they copy other OEMs might be true, but they sure do a GOOD JOB! Results are excellent.
16. wicpromd (Posts: 242; Member since: 20 Aug 2013)
Combine Nokia , sony ,htc ,lg or whatever
still Samsung rules.......
18. kostas12ldb (Posts: 41; Member since: 18 Feb 2013)
OK! Profits are good and all!
Now GIVE US the freakin 4.3 for our Note 2, which still runs the ancient 4.1.2!!!!!!!!!!!
The phone was a flagship 11 months ago, and most ppl bought it for more than 700 euro, remember!!!!!!
21. joey_sfb (Posts: 1473; Member since: 29 Mar 2012)
Hope their 4.3 for note 2 would have the same feature set as note 3. I would be watching as i own both.
22. kostas12ldb (Posts: 41; Member since: 18 Feb 2013)
I dont think they'll do that, just to give you one more reason to upgrade from N2 to N3. :)
That's the usual strategy (for all OEMs).
25. kabhijeet.16 (Posts: 392; Member since: 05 Dec 2012)
They provided Android 4.1.2 to Galaxy SII (2011 device). May be they will skip 4.3 and directly give 4.4 updates. They did this in the past with Galaxy Advance and some other handsets and tablets.
20. Tsepz_GP (Posts: 567; Member since: 12 Apr 2012)
Another very hard pill to swallow for the haters!
Great work by Samsung :)
28. freebee269 (Posts: 432; Member since: 10 Aug 2012)
i have 2 samsung 1080p led tv's, so i contributed to their profit earnings. samsung tv's are my favorite. i also like their players like bluray and dvd.