Galaxy Note 10 reversed the pointer on Samsung
For the past two years, Samsung has recorded a record-breaking profit and has faced a significant decline in the previous quarter, ie in the second quarter of 2019. The main reason for this decline was the slowdown in the memory market.
Technology giant announced the highly anticipated financial report for the third quarter of 2019. Although the operating profit of the South Korean producer has fallen significantly on an annual basis, an increase of $ 800 million was achieved compared to the second quarter.
To put it in numbers: Samsung's operating profit in the second quarter of 2019 was $ 5.5 billion. Samsung's operating profit was $ 6.4 billion in the third quarter.
Compared to the same period last year, there is a decrease of 56 percent. In the third quarter of 2018, revenues of $ 55 billion and operating profit of $ 14.7 billion were generated. In other words, while the income remained constant, the operating profit fell significantly.
The strong sales of the Galaxy Note 10 series and the OLED displays have played a significant role in the recovery in the second quarter decline. The iPhone 11 series includes OLED displays from Samsung.
In this context, Samsung seems to be able to stop the decline caused by the slowdown in memory sales for a while with mobile devices and OLED displays.