Written by Reuters
08 Oct, 2019 | 3:17 pm
Reuters – Samsung Electronics Co Ltd is likely to post a fourth consecutive quarter of declining profit when it reports preliminary earnings on Tuesday (October 8), though investors will be hoping the worst has passed with chip prices showing signs of recovery.
Falling semiconductor prices and the drawn-out U.S-China trade war have bitten into profits at the world’s top memory chip and smartphone maker, but analysts expect to see earnings growth next year as chip prices turn around.
In the mobile business, which accounted for about 24 percent of total operating profit in the second quarter, Samsung is benefiting from U.S. sanctions against Chinese smartphone and network equipment rival Huawei Technologies.
Samsung’s share of the European mobile market leaped to a five-year high of more than 40 percent in the second quarter, while Huawei’s slipped below 20 percent, according to data from research firm Canalys.
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