Samsung sees Q3 operating profit up 58% after sales grow 6.5%

Must Read

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...
- Advertisement -

Samsung Electronics said it expects to report third-quarter sales of KRW 66 trillion and operating profit of KRW 12.3 trillion (about $10.6 billion). That means year-on-year revenue growth of 6.5 per cent and profit up 58 per cent.

Samsung sees Q3 operating profit up 58% after sales grow 6.5%
Samsung sees Q3 operating profit up 58% after sales grow 6.5% – www.brandspurng.com

The results are also up strongly compared to Q2 2020 when Samsung reported sales of KRW 52.97 trillion and operating profit of KRW 8.15 trillion. Samsung said then that it expected gradual recovery in market demand from the second half, following the coronavirus lockdowns that disrupted supply chains and retail sales in the first half of the year.
The company also released several new products during Q3, including the new Note20 smartphones, more wearables and tablets, its latest foldable device and additional 5G phones. These are expected to support demand through the year-end shopping season.
Samsung is seen as a big beneficiary of both Huawei’s problems as well as Intel’s, according to Newman. U.S. sanctions on Huawei severely limit the Chinese tech company’s options to acquire chips for its smartphones and critical semiconductor components. For its part, Intel announced a delay in its next-generation chips during its earnings guidance in July.

HEADLINES YOU MIGHT HAVE MISSED FROM BRAND SPUR

Sony Led the Growing Smartphone Image Sensor Market in H1 2020

The global smartphone Image sensor market led by Sony reached a total revenue of $6.3 billion in H1 2020, according to the Strategy Analytics Handset Component Technologies service report, “Smartphone Image Sensor Market Share Q2 2020: Revenue down by 6 per cent as Sony dominates the market.”

Dettol Cool Announces Ighalo As Brand Ambassador

- Advertisement -

Manchester United forward, Odion Ighalo, has been named as an ambassador of Nigeria’s leading hygiene brand Dettol.

TVC Communications Partner with P&G to Commemorate 2020 Child Health Day

To commemorate the 2020 Child Health Day, Africa’s foremost media company, TVC Communications; owners of TVC, TVC News, Max FM (Lagos & Abuja) & Adaba FM in partnership with Procter & Gamble recently donated Pampers Baby Diapers to post-natal mothers at Nigeria’s biggest Maternity Hospital in Lagos; Ayinke House Maternity Hospital, Ikeja Lagos, Nigeria.

Read Also:  Jeremy Hunt: Time for the world to see African nations as partners for investment and trade

Market Cap of Three Leading Pharma Companies Jumped by $27bn in 2020, Roche Holding the Biggest Winner

- Advertisement -

The global pharmaceutical industry has experienced significant growth in the last two decades, with pharma revenues worldwide reaching $1.25trn in 2019. Besides generating huge profits, some of the leading companies responsible for the research, development, production, and distribution of medications also witnessed a substantial market cap growth this year.

COVID-19 disrupting mental health services in most countries, WHO survey

The COVID-19 pandemic has disrupted or halted critical mental health services in 93% of countries worldwide while the demand for mental health is increasing, according to a new WHO survey. The survey of 130 countries provides the first global data showing the devastating impact of COVID-19 on access to mental health services and underscores the urgent need for increased funding.

Sony and Xbox Games Strategies Diverge As Cloud Streaming Shapes Future Platforms

- Advertisement -

The next battle in the 50-year-old games console wars will be shaped by the increasingly contrasting strategies of the two leading players, Sony PlayStation and Microsoft Xbox, according to the latest research from Strategy Analytics.

Dealing With Malnutrition In A Pandemic

Read Also:  Local Equities Market Plunges by 3.51% as Bonny Light Crashes to USD21.41

Six months ago, the terms COVID-19, pandemic, social distancing, isolation and quarantine made their way into the popular lexicon. Another word that has also gained prominence during this period is malnutrition.

Video Games Subscription Revenue to Exceed $11 billion by 2025, but Cloud Growth Will Be Slow

A new report from Juniper Research has found that video games service platforms, such as EA Play and PlayStation Now, will grow to an $11 billion sector by 2025, up from an estimated $6.6 billion this year. These platforms represent a strong new revenue stream for an industry experiencing a revenue decline of around 3% per year over the next five years.

- Advertisement -
Samsung sees Q3 operating profit up 58% after sales grow 6.5% - Brand SpurSamsung sees Q3 operating profit up 58% after sales grow 6.5% - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Samsung sees Q3 operating profit up 58% after sales grow 6.5% - Brand SpurSamsung sees Q3 operating profit up 58% after sales grow 6.5% - Brand Spur

Latest News

Manchester City 2020-2021 Squad Most Expensive Out of Top 5 Leagues

Football transfer fees have exploded over the last two decades with some of the top clubs not afraid to...

InfraCredit to Raise Fresh Capital

The Infrastructure Credit Guarantee Company (InfraCredit) has revealed plan to raise additional capital to fund critical projects in Nigeria. The unit of the Nigeria Sovereign...

Zedvance Partners With AMARA MEDICARE to Offer Discounted Health Plans to Customers

Leading consumer finance company, Zedvance, has announced a partnership agreement with AMARA MEDICARE that will enable its customers in Lagos have access to discounted...

SunTrust Bank Picks Former CBN Director as New Chairman

The Central Bank of Nigeria (CBN) Former Director, Mr. Olanrewaju Shittu has been elected as the chairman of SunTrust Bank Nigeria Limited by the...

Food Prices soared in October, prices highest in Edo, Kwara, Sokoto – NBS

Food prices soared in October, the consumer price index (CPI) report released on Monday by the National Bureau of Statistics (NBS) has shown. According to its...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Samsung sees Q3 operating profit up 58% after sales grow 6.5% - Brand SpurSamsung sees Q3 operating profit up 58% after sales grow 6.5% - Brand Spur