Samsung reported record sales in the third quarter of this year - 59 billion dollars (approximately 1,38 trillion crowns). The biggest contributors were the sale of chips, which rose by 82% year-on-year, and smartphones, which sold half as much year-on-year. The segment of premium TVs also grew significantly.
As for the net profit, it reached 8,3 billion dollars (roughly 194 billion crowns) in the penultimate quarter, which is a year-on-year increase of 49%. The extremely good financial results of the South Korean technology giant seem to have been helped by the tightening of sanctions by the US government against Huawei.
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In August, the US Commerce Department announced it would impose sanctions against any foreign firm that sells chips to the Chinese smartphone giant without first securing a special license from it. Recently, several Chinese technology companies and their products have been targeted by the US government, such as the globally successful TikTok application, operated by ByteDance, or the social network WeChat, created by the technology giant Tencent.
The record financial results come as the U.S. chip industry consolidates. Chips have a wide range of uses and are found in commercial infrastructure such as data centers in addition to smartphones or consumer electronics.
This week, the processor giant AMD announced that it is buying one of the largest manufacturers of logic circuits in the world, the American company Xilinx, for 35 billion dollars (about 817 billion crowns). Last month, Nvidia, the world's largest manufacturer of graphics chips, announced the acquisition of the British chip manufacturer Arm, which was worth 40 billion dollars (roughly 950 billion CZK).
Despite the exceptional results, Samsung anticipates that it will not do so well in the last quarter of the year. He expects weaker demand for chips from server customers as well as greater competition in the field of smartphones and consumer electronics.
