Quarterly income of KRW 79.1 trillion, working revenue at KRW 9.18 trillion
Company to give attention to technological management in parts and premium merchandise with AI options
Samsung Electronics in the present day reported monetary outcomes for the third quarter ended Sept. 30, 2024.
The Company posted KRW 79.1 trillion in consolidated income, a rise of seven% from the earlier quarter, on the again of the launch results of recent smartphone fashions and elevated gross sales of high-end reminiscence merchandise. Operating revenue declined to KRW 9.18 trillion, largely resulting from one-off prices, together with the supply of incentives within the Device Solutions (DS) Division.
The energy of the Korean gained in opposition to the U.S. greenback resulted in a destructive impression on company-wide working revenue of about KRW 0.5 trillion in comparison with the earlier quarter.
In the fourth quarter, whereas reminiscence demand for cell and PC could encounter softness, development in AI will maintain demand at sturdy ranges. Against this backdrop, the Company will focus on driving gross sales of High Bandwidth Memory (HBM) and high-density merchandise. The Foundry Business goals to extend order volumes by enhancing superior course of applied sciences. Samsung Display Corporation (SDC) expects the demand of flagship merchandise from main prospects to proceed, whereas sustaining a fairly conservative outlook on its efficiency. The Device eXperience (DX) Division will proceed to give attention to premium merchandise, however gross sales are anticipated to say no barely in comparison with the earlier quarter.
For 2025, the Company will stay targeted on enhancing competitiveness in superior applied sciences and strengthening management in premium merchandise and AI capabilities amid ongoing macroeconomic uncertainties. The DS Division will tackle demand for differentiated merchandise primarily based on superior applied sciences and excessive value-added merchandise corresponding to HBM and server SSDs. In addition, the Company plans to leverage the mass manufacturing on the two nanometer (nm) Gate-All-Around (GAA) course of to win new shoppers. SDC will purpose to keep up management within the high-end product class and broaden its product portfolio. The DX Division will proceed to ship distinctive buyer experiences by enhanced AI options and product connectivity.
With over 500 million numerous merchandise being delivered to customers globally yearly, the Company is tailoring its AI know-how in every product to assist lead the market. By leveraging the SmartThings platform with 360 million customers and capabilities in product intelligence, spatial intelligence, and personalization, the Company plans to firmly set up itself within the dwelling of the long run, the place AI shall be widespread. In the AI period for the house, the Company will give attention to the safety of its merchandise, comfort in system connectivity, clever know-how to save lots of power and time, and the well being and well-being of customers and their households.
Memory Achieves Revenue Growth in Q3
The DS Division posted KRW 29.27 trillion in consolidated income and KRW 3.86 trillion in working revenue within the third quarter.
For the Memory Business, demand for AI and standard servers was sturdy, as main datacenter and know-how firms continued to take a position. But cell demand was comparatively smooth resulting from stock changes by some prospects, and the supply-demand scenario was impacted considerably by the rising provide of legacy merchandise within the China market.
The Company targeted on actively responding to the demand for AI and server merchandise whereas depleting ageing inventories of legacy merchandise to additional enhance the stock degree and blend. Therefore, in comparison with the earlier quarter, the Company achieved vital income development in HBM, DDR5 and Server SSD.
However, efficiency decreased resulting from a diminished reversal of stock valuation loss in comparison with the earlier quarter, one-off bills corresponding to the supply of incentives, and forex results resulting from a weak…
