Samsung Posts Record Profits For Q1 2018, Up 58-Percent YoY

Samsung has just released its Q1 2018 financial report, and according to the date provided in it, the company managed to hit records profits, as it made an operating profit of 15,64 trillion won, which translates to $14.4 billion. If we compared that to the same period last year, we’re looking at a 58-percent increase, which is a considerable boost for the company. No doubt that the Galaxy S9 and S9 Plus played a huge role in all this, not to mention that the company’s memory business has been booming as well.

This South Korea-based tech giant has also reported revenue of 60.56 trillion won ($56.08 billion), which is an increase of 19.8-percent compared to Q1 2017, as the company’s revenue for the same period last year was 50.55 trillion won ($46.81 billion). Samsung also announced that its net profit was 11.69 trillion won ($10.82 billion) for Q1 2018, which is a 52.2-percent increase compared to the same period last year. The company’s IT & Mobile Communications Division posted revenue of 28.45 trillion won ($26.34 billion), and operating profit of 3.77 trillion won ($3.49 billion) for the first quarter of the year. That being said, Samsung noted that the Semiconductor Business played a huge role in its earnings, as memory chipsets for high value-added servers and graphics products were in high-demand, while the System LSI and Foundry businesses also contributed to such high first quarter earnings. Chipsets for smartphones and crypto-currency mining also didn’t do too bad, quite on the contrary. Samsung did not that its Display business, which manufactures both OLED and LCD panels, didn’t do as well as the company had hoped, as it was affected by slow demand for flexible OLED panels, and increased competition between rigid OLED and LTPS LCD panels, that’s not to say it did bad, though, by any means.

The company said that its expected its Memory Business to maintain ‘strong performance’ in the second quarter of the year, but expects a decline in profitability in the Mobile Business, mainly due to increased competition in the high-end segment. Samsung is also expecting high demand for server and mobile DRAM moving forward, and also increased orders for high-density storage chips. The company’s Display Panel segment will look for profitability in OLED by cutting costs and improving yield, says Samsung. Profit from the Mobile Business is expected to decline in the second quarter of 2018, says Samsung, mainly due to ‘stagnant sales of flagship models’. Samsung is also looking to focus more on AI and 5G, as “opportunities will widen” moving forward. For the company’s full report, visit the source link down below.

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Kristijan has been writing for Android Headlines since 2014 and is an editor for the site. He has worked as a writer for several outlets before joining Android Headlines, and has a background in writing about Android and technology in general. He is a smartphone enthusiast that specializes in Android applications, and that platform in general. Contact him at Kristijan. [email protected]
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