Samsung made over $50 billion in sales this quarter

Samsung's Always on Display now comes with a few more options. Image Tech2/Rehan Hooda

"When the won appreciates to 1,050 won against the greenback, it will hurt Samsung Electronics' performance", said Song Myung-seob, an analyst at Hi Investment & Securities.

Total revenue are projected at ₩60 trillion ($56 billion), adding 18.7 percent from ₩50.55 trillion in the same quarter previous year. Sales rose 19%, Samsung did not disclose its net income, but will give the breakdown figures and more details later this month.

They put this down to Samsung's early launch of its flagship Galaxy S9 device in March, healthy sales of older devices as consumers balk at the high price of new premium models, and a short-term dip in advertising costs.

In a separate development, prosecutors searched the offices of a Samsung's unit on Friday as part of a probe into allegations the conglomerate had sabotaged worker's efforts to set up stronger unions, Yonhap News Agency said.

Samsung shares fell as much as 2.7 percent on Friday before paring losses to close down 0.7 percent, compared to a 0.3 percent drop on the broader market.

The first-quarter result, which includes the sales of its marquee Galaxy S9 smartphone unveiled in February, may ease concerns about its display business after Apple sold fewer-than-projected iPhone X handsets with Samsung-made displays.

More news: Ex-Trump campaign chairman Paul Manafort challenges special counsel's authority

Analysts said Samsung's shares were affected by a UBS report forecasting an increase in the supply of DRAM chips used in servers, which dragged down Micron shares more than six percent on Thursday. Stock price of the chipmaker was still down by 3.6 percent to $48.00 in pre-market trading.

"Memory chips are the loyal son of Samsung", said Lee Jae-yun, an analyst at Yuanta Securities.

However, Analyst Kim Young-woo stated that the semiconductor industry could still slow in 2019, as RAM demand from major clients, such as Apple and social network giant Facebook Inc. might grow weaker, adding that Samsung is likely to trim down its capital expenditure for memory chips next year.

This is expected to slow in coming quarters though, as analysts expect the chip boom to wind down.

DRAM supply is forecast to remain tight in the first half on strong server demand, even if the establishment of new chip manufacturing plants is increasing quickly.

Related News:



Most liked

DNA test reveals fertility's doctor's dark secret, lawsuit alleges
In August, Rowlette was helping to sort through her parents' old papers when she ran across her birth certificate. The lawsuit says that Rowlette was "horrified" and called her parents in a panic to discuss the revelation. "Ms.

Pakistani PM to visit Afghanistan in a bid to strengthen troubled ties
Pakistan had brokered the first round of direct talks between the fragile Afghan government and Taliban in Islamabad in July 2015. Afghan president welcomed the prime minister and members of Pakistani delegation.

Minnesotans Hoping to Lead Minnesota-Duluth to Hockey National Championship
I'm still on a steady stream of drugs, but I feel decent most days. "I got a big chunk of it and it kind of slipped through". The Bulldogs earned another chance to show the world that they're, possibly, the best team in the game on Saturday night.

Amit Shah meets party's legislators from Maharashtra
Without losing their patience and decorum, they should redouble their efforts to build a "New India" by 2022, he said. Exuding confidence, he said the people will once again show faith in Modi and vote the BJP to power in 2019.

Dem States And Cities Sue To Stop Citizenship Questions In Census
In Virginia, immigrants account for around 12 percent of the population and 300,000 are undocumented. Today's lawsuit was filed in the U.S.

London murders: man becomes latest victim of knife crime in capital
In 2016 the High Court ruled that householders can use disproportionate force against intruders if they believe it necessary. One of the men, reportedly armed with a screwdriver, died following a struggle inside the house.

NYPD has Warrant for Conor McGregor's Arrest
It was revealed yesterday that the Notorious would be stripped of his lightweight title , and it would be on the line at UFC 223 . The Irish UFC fighter Conor McGregor on Thursday stormed a UFC press conference in New York City and started a brawl .

Ravens sign former Redskins, Browns QB RGIII
They announced on Wednesday the signing of former Washington Redskins and Cleveland Browns quarterback Robert Griffin III . RG3 returned in 2013 but was benched after throwing 16 TD passes and 13 interceptions. "He really wanted to be a Raven".

Spotify debuts with a boom, opening at $165.90
Shares rose as high as $165.90, which would have indicated a $29.5 billion market capitalization, before falling below $150. After reaching a high of $169, shares closed at $149.01 - 13% higher than its reference price on its first day of trading.

Los Angeles Rams Acquire Brandin Cooks from the Patriots
While the asking price for Cooks was also steep, the Rams apparently felt more comfortable giving up the assets for Cooks . But it wasn't until a chance meeting between Belichick and Rams head coach Sean McVay that a deal started to materialize.

Google's chief of search and artificial intelligence hired by Apple
There are surely more applications of machine learning planned in the future; Giannandrea would likely spearhead those efforts. Lately, leading Silicon Valley companies have seen major shake-ups at higher level management, in the AI space.

Family, Daughter Reunite 24 Years After She Went Missing
The couple, who have another daughter and a son, never left Chengdu , in the hope that Qifeng would find her way back to them. The couple, who have another daughter and son, reportedly spent years searching for her in the city and surrounding areas.

MP Sarah Champion wants to help Rotherham firms close gender pay gap
The broadcaster said some men will take substantial pay cuts, while some women and other men would see their salaries increased. The companies have to disclose the mean and median gaps between hourly wages for a male and female employer.

Apple Testing 'Touchless' Gestures for the iPhone
The iPhone X's OLED screen curves slightly at the bottom, but the shape is mostly invisible to the human eye. With the release of iOS 11 .3, we saw a number of useful features added to Apple's mobile operating system.

Prince Philip in 'good spirits' after successful hip operation
Prince Philip has undergone a "successful" hip operation and is recovering well, Buckingham Palace has announced. Philip retired from public life last August, quipping at the time that he was no longer able to "stand up much".