Thursday, 21 November, 2019

International Business: Strong smartphone sales raise hopes of Samsung turnaround

The logo of Samsung Electronics is seen at its office building in Seoul South Korea The logo of Samsung Electronics is seen at its office building in Seoul South Korea
Emmett Howard | 10 October, 2019, 08:55

It says operating profit will tumble 56 percent in the third quarter.

But since the end of past year, demand and prices for flash memory have taken a steep nosedive because of an oversupply that has dragged on Samsung's profitability. Just to be clear, this is considerably more than Samsung made in Q2 this year.

Year-over-year, we expect Samsung to post revenue that's literally half as good as it was in the same quarter of 2018.

The firm is the flagship subsidiary of the giant Samsung Group, by far the biggest of the family-controlled conglomerates that dominate business in the world's 11th-largest economy, and crucial to South Korea's economic health. Its sales tumbled 7.3 percent on-year to 170.51 trillion won over the cited period.

HSBC to cut 10,000 jobs - FT
Deutsche Bank news in August said it would slash 18,000 jobs while Barclays and Citibank said they are studying job cuts. According to them, the result will be a significant cut in HSBC staff, now numbering 238,000 employees .

Kevin Durant Says Cavs, Not Warriors, Were Most Talented Team in 2016
Durant recently said the Knicks aren't cool anymore and that's why big-time free agents don't sign with them. I like the guys that wanted to be here". "We really haven't been focused on what's going on on the outside".

Investigating Bidens not our business, says China
Even if the House impeaches Trump, it remains unlikely that the Republican-led Senate would convict him in the subsequent trial. Congressional Democrats are stepping up efforts to impeach Trump who in turn has produced TV ads criticizing the Bidens.

Its working income for the interval slipped additional, hitting 7.7 trillion Korean gained, 56personal pc decrease than the an analogous interval a one year earlier. -China trade war and Japanese restrictions on the export of materials essential for chip and display production. CLSA Senior Analyst Sanjeev Rana told CNBC, however, that things are improving for the industry, and Samsung actually enjoyed better-than-expected memory shipments in the third quarter.

In the second quarter Samsung's IT and mobile division dropped year-on-year to £1.08 billion in operating profit, from £1.87 billion the year before. Before then, of course, it will expand the availability of the 5G versions of the Note 10 and release the folding Galaxy Fold phone. In Q1, Samsung Electronics said its operating profit fell more than 60 percent due to sinking prices of memory chips and display panels.

Its home appliance business unit's operating income for the third quarter is put at some 700 billion won, according to the sources. Also, by increasing the number of stacked layers from eight to 12, Samsung will soon be able to mass produce 24-gigabyte high bandwidth memory, which provides three times the capacity of 8GB high bandwidth memory on the market today. But SK Kim, an analyst at brokerage firm Daiwa Capital Markets, said last month that he expects a boost in Samsung's memory chip demand thanks to its advances in extreme ultraviolet lithography, a key breakthrough in chip manufacturing.

Shares in Samsung closed up 2.4% in Seoul.

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