Samsung is continuing its steady recovery from a two year period of declining profits.
The South Korean electronics giant has released its financial projection for the fourth quarter of 2015, and the news is promising.
Samsung expects to make 6.1 trillion won (£3.5 billion) operating profit on 53 billion won (£30 billion) in sales. This compares favourably to the figures for Q4 2014, when Samsung earned 5.29 trillion won on sales of 52.7 trillion won.
Perhaps more significantly, this is the second quarter in a row in which the world’s biggest smartphone maker has secured year-on-year profit growth. The third quarter of 2015 saw Samsung ending a losing streak of seven consecutive quarters of year-on-year profit losses.
The recent recovery seems to have been driven by Samsung’s flourishing semiconductor and display panel businesses rather than any notable increase in its smartphone business.
However, The Wall Street Journal points out that Samsung doesn’t expect 2016 to be an easy year. In a New Year’s speech to employee’s, Samsung co-chief executive Kwon Oh-hyun said that “the global economy will continue to see tepid growth while uncertainty will grow in emerging markets”.
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In addition, Samsung is expecting to see strong competition in all of its major categories, including smartphones, TVs, and memory chips.
With reports elsewhere suggesting that Apple is in for a slow year on the iPhone front, 2016 is shaping up to be a tough one for the world’s top consumer tech companies.
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