Samsung posts record Q3 profit, expects a much tougher year to follow

Samsung posted its quarterly report for Q3 and again smashed its own record by reaching KRW65.46 trillion ($57.3 billion) in revenue and KRW17.57 trillion ($15.4 billion) in operating profit. However, the Korean company realizes the money flow will likely decrease going forward due to the end of a two-year boom in memory chips demand. The IT & Mobile Division, responsible for the Galaxy smartphones, recorded a 10% YoY decline in sales to KRW24.91 trillion ($2.2 billion) compared with KRW27.69 trillion ($2.4 billion) in Q3 2017 despite "solid flagship sales." The semiconductor...