Just as predicted, Samsung’s operating profits have increased significantly in Q3 2020 despite the pandemic weighing down on the Smartphone industry. The credit for these gains mostly goes to the launch of flagship devices such as the Galaxy Note 20 series and the Z Fold 2.
Samsung already told investors that profits would soar in the upcoming period, and now that the detailed results are out, we now know that the Mobile division’s operating profit has increased by 52% compared to last year. The overall operating profit reached $8.2 billion, which was a 52% increase compared to Q3, 2019.
The company also recorded a growth in its display business thanks to the recent launch of the iPhone 12 series as Samsung supplies all of its OLED displays. The memory chip business was also highly successful thanks to all the sales of mobile phone chips, server chips, and GPU chips used on game consoles.
However, looking forward, industry experts believe that there will be a decline in financial performance in Q4 due to increased competition in the smartphone market and slower orders for server memory chips.
Regardless, Samsung is planning to push more 5G components and Smartphones in the next period along with advanced display tech for foldable phones as well as new TVs with quantum dot technology.