​Samsung to post record 15.6 trillion won profit for Q1 2018

Samsung Electronics expects a first quarter profit of 15.6 trillion won, higher than market estimates and its highest ever for a quarter.
Written by Cho Mu-Hyun, Contributing Writer

Samsung Electronics expects operating profits of 15.6 trillion won (around $14.6 billion) for the first quarter of 2018, it has said in its earning guidance.

It beats the market consensus of 14.5 trillion won by local securities firms and is its highest ever for a quarter. The figure marks a rise of 57.6 percent from last year's 9.898 trillion won of operating profit for Q1 2017.

Q1 2018 saw revenues of 60 trillion won, an 18.7 percent rise from a year ago. Samsung posted 15.147 trillion won for the fourth quarter last year, its previous high for a quarter.

Analysts estimate that semiconductors, especially memory chips, have contributed some 11 trillion won, while the early launch of the high-margin Galaxy S9 series also likely contributed.

However, the decline in sales of small-sized OLED displays from a lack of popularity of iPhone X likely hurt the display business. Samsung is the main supplier for the displays.

Samsung is expected to continue its streak to the second quarter from continued high demand for semiconductors and sales of the S9 series.

There is uncertainty however; the trade war between US and China may also negatively affect exchange rates and Chinese imports of Korean IT products going forward.

Full estimates will be announced later this month.


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