Samsung Electronics Co Ltd's third-quarter profit could tumble 25%, the first year-on-year decline in nearly three years, as an economic downturn saps demand for electronic devices and the chips that power them.
The logo of Samsung Electronics is seen at its office building in Seoul, South Korea South Korea, October 11, 2017. Picture taken on October 11, 2017. REUTERS/Kim Hong-JiThis would be lowest quarterly profit since Q1 2021Mobile business profit could drop 17% -analysts' estimatesthird-quarter profit could tumble 25%, the first year-on-year decline in nearly three years, as an economic downturn saps demand for electronic devices and the chips that power them.
Operating profit for Samsung, the world's biggest memory chip and smartphone maker, likely fell to 11.8 trillion won in the July-September quarter, according to a Refinitiv SmartEstimate from 22 analysts."Being the world's top memory chip maker, top in TV and mobile OLED displays, and top in smartphone shipments, Samsung is highly sensitive to the economy, with profits easily linked to demand," said Greg Roh, head of research at Hyundai Motor Securities.
Operating profit for Samsung's chip business likely fell by nearly a third to 6.8 trillion won, an average of seven estimates showed.
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