SEOUL: Samsung Electronics’ net profit jumped by almost half in the third quarter, it reported Thursday, as its mobile and chip businesses were boosted by US sanctions against its Chinese rival Huawei.
The country is now widely expected to be among the least affected among the OECD group of developed economies in 2020 in terms of economic performance.
Operating profit rose 58.7% to 12.35 trillion won, while sales were also up 8% at 66.96 trillion won. Lim at Counterpoint said: “The situation in the semiconductor market including servers market is likely not so good, thus there is a lot of uncertainty. Server demand is also decreasing.”
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