Sales of Samsung Electronics hit a quarterly record, supported by a rebound in its sales in mobile phones and home appliances thanks to increased demand in light of the Coronavirus pandemic and good performance in the chip sector against the backdrop of US sanctions against the Chinese company Huawei. / p>
The South Korean Yonhap Agency quoted the company as saying that its sales in the third quarter reached 66.9 trillion won ($ 59 billion), an increase of 8% year-on-year, setting a quarterly record since it achieved 65.9 trillion won in 2017. .
Its operating profit jumped 58.85% year-on-year to 12.3 trillion won in the third quarter of this year, registering its best quarterly performance since the third quarter of 2018 when it reached To 17.5 trillion won.
Samsung said its sales of smartphones in the third quarter jumped nearly 50% from the previous quarter with the launch of its phone events such as the Galaxy Note 20 and Galaxy Z Fold 2. And others.
Experts expect that Samsung’s performance in the fourth quarter will be weaker than that of the third quarter, due to the suspension of the supply of Huawei chips, And lower chip prices, as well as increased promotional expenditures for mobile phones, as rival Apple launches its latest products.
Samsung sales set a record quarterly in the third quarter