Samsung Electronics said it expects revenues for the fourth quarter to reach KRW 60-62 trillion, better than the KRW 59.88 trillion reported the year before but down from the third quarter’s KRW 66.96 trillion, when results got a boost from a jump in mobile phone sales.
The operating profit is seen at KRW 8.9-9.1 trillion, up from the year earlier’s 7.16 trillion but off from the 12.35 trillion recorded in the previous quarter.
Samsung earlier warned for lower profits in Q4, amid weakening memory chip demand from server customers and intensifying competition in mobile phones and consumer electronics. The ongoing coronavirus pandemic is still causing uncertainty in the market and will continue that this year as well. Still, the first half of 2021 should see a better performance, as CPUs drive server demand and the 5G market continues to grow.
