Samsung says benefits are growing, however, cell phone competition is fierce

Samsung predicts its benefits rose almost 26% last quarter. That proposes demand for large numbers of its products has kept up during the Covid pandemic even as it faces extreme competition in the cell phone market.

The South Korean combination said Friday that it hopes to post working benefit of around 9 trillion Korean won ($8.2 billion) for the October-December quarter, an expansion contrasted with a similar period a year sooner however off fairly from investigator gauges.

The organization anticipated deals of around 61 trillion Korean won ($56 billion), in accordance with the assumptions for examiners surveyed by Refinitiv.

Samsung’s (SSNLF) stock rose about 1.8% in Seoul on Friday.

The organization didn’t expound on profit, however it will report full outcomes for the final quarter toward the finish of this current month.

While interest for a portion of Samsung’s gadgets and different parts, for example, show boards, will probably stay strong, the organization faces intense rivalry in the cell phone market. Chinese adversary Huawei quickly outperformed Samsung a year ago to turn into the world’s No. 1 cell phone merchant, while Apple just dispatched a 5G-upheld iPhone.

All things being equal, investigators anticipate that profit in 2021 should be solid as deals of cell phones and memory chips increase. Daiwa examiner SK Kim highlighted the approaching arrival of the Samsung Galaxy S21 as a brilliant spot.

“We see [Samsung] launching the Galaxy S series, its key flagship line, earlier than before by end-January 2021, which we believe will drive a sharp rebound in smartphone shipment,” Kim wrote in a research note earlier this week.

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Daily Scotland News journalist was involved in the writing and production of this article.