Samsung Q3 guidance is out, new profit records set

Samsung Q3 guidance is out, new profit records set

The South Korea electronics giant said Thursday it expects to record its biggest operating profit ever in the third quarter, likely thanks largely to continued strong demand for its memory chips. Consolidated profits are predicted to be close to $15.5 billion, a good 18% more than this year's previous quarter and close to 20% more than the results for Q3 last year. Samsung expects revenue will increase to 65 trillion won from 62 trillion won.

"Early next year might be the right time to buy Samsung before growth picks up again in the bottom half of next year", he added.

Although neither the Galaxy S9 nor the recently launched Galaxy Note 9 was able to revive the falling smartphone sales for Samsung, its other businesses made up for the unexpected performance. Similarly, the chip business helped Samsung earn record profits over the a year ago, even though the demand for memory chips continues to slow down worldwide.

USA charges seven Russian intelligence officers with hacking
He showed passports identifying the Russians as Alexeksei Morenets, Evgenii Serebriakov, Oleg Sotknikov and Alexey Minin. The Olympics hacking campaign targeted 250 athletes from 30 countries, along with U.S. and global anti-doping agencies.

Ben Affleck posts about substance abuse treatment
This has caused outlets like TMZ to suggest that the "Gone Girl" star has turned to the Lord during his latest stint in rehab. Garner and Affleck announced their separation in 2015 .

Groups representing internet providers sue California over net neutrality
Californian Governor Jerry Brown passed the strictest net neutrality law in the country on Sunday evening. Though the FCC would come back with a counter to block their efforts once again, stated Lyons.

Samsung overtook Intel to become the biggest chipmaker past year.

"DRAM products have begun to see a weak price trend since 3Q18 after the price growth of nine consecutive quarters", said Avril Wu, a senior research director at DRAMeXchange, a unit of TrendForce.

Samsung is also facing mounting competition from Apple and Chinese rivals and is looking for ways to boost momentum in a sluggish smartphone market. Jay Y Lee, heir to the Samsung empire, spent nearly a year in prison for bribery and embezzlement.

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