Samsung Electronics just landed a 245 percent increase from their previous year. Currently, their net profit in the third quarter is 11.1 trillion won, which is $9.89 billion. This was mainly because of the strong returns from its chip business.
July to September is where their operating profits reached 14.3 trillion won, which shows a 279.4 percent increase, said the company in a statement. Sales also rose by 29.7 percent to stand at a record high of 62 trillion won, reports Efe news.
Both the operating profit and the sales revenue of the electronics giant are in line with its forecasts published on October 13.
The South Korean tech giant had its the brightest sector in the third quarter with an operating profit of 9.96 trillion won, three times more than the outcome a year ago.
This mainly because of the rise in its product demand and increase in product prices.
The company's IT and Mobile Communications division which includes its mobile phones had an operating profit of 3.29 trillion won.
Last year's third quarter looks like a meagre sum compared to this year's third quarter which equals to 3000 percent more since the company was a debacle with the Galaxy Note 7.
The smartphone had reported many causes of battery failure, which went to the length of having the device combust or explode, leading to the suspension of the phone.
The Galaxy Note 8, on the other hand, received a good welcome, but the figure is 19 percent lower than that of the previous quarter due to the unfavourable demand for its mid- and low-end models in the last three months.
The company further announced that given its continued record yields, it will increase the annual dividend to be distributed this year by 20 percent of the current volume to approximately 4.8 trillion won.
That amount will double to 9.6 trillion won in 2018, 2019 and 2020, it added.
With Inputs from IANS
